THIS JUST IN. Chanel has announced that they will ‘harmonise’ prices with regards to their iconic bags, fine jewellery and luxury timepieces. In other words, you’ll no longer pay much more in Singapore as compared to in Paris. More specifically, as far as iconic bags go, they will include the 2.55, the Classic Flap (also known as the 11.12) and of course, the Boy Chanel.

In other words, with this new move, prices will consistently be about the same no matter where in the world you are (I hear it’s no more than a +/- 10% variable), a good move in my opinion to fight resellers, boost the local retail economy and of course, make die-hard fans happier than they’ve ever been before knowing that they will now be spending the same to get something that’s become even more desirable with this announcement.

Do note that Chanel having their prices ‘harmonised’ globally means it will be pretty much the same anywhere in the world you buy pieces from the 3 categories listed above (everything else should be ‘harmonised’ by end 2015). It doesn’t, however, mean that prices will eventually be much lower than they are now.

According to some reports online, a typical Boy retails currently for EUR3100 in Europe, but will rise to EUR3720 this year. In China, the price of the same bag will drop from RMB32,700 yuan to RMB26,000. Notice the difference? Still, it’s good news, no?

Also, although this move is supposedly to be effective come early April, I know some peeps in Singapore who have shopped at Chanel today and have told me that the new prices are already effective. This again, needs to be verified but it’s an easy fix, just head down to Chanel boutiques tomorrow and find out for yourself in person.

Image: Chanel