When it comes to luxury fashion brands, Chanel is undoubtedly a name that immediately springs to mind. Known for their timeless designs and impeccable craftsmanship, Chanel has become a symbol of luxury and sophistication in the fashion world. However, with prices often reaching astronomical heights, many shoppers wonder if there are ways to save on Chanel purchases.
One such way is by buying Chanel in London. But is it really cheaper to do so? Let’s take a closer look.
Why London?
London has long been a shopping destination for luxury goods, attracting shoppers from all over the world. With its diverse range of high-end boutiques and department stores, it’s no surprise that many shoppers flock to London to indulge in some retail therapy. Additionally, the UK has a Value Added Tax (VAT) refund program which allows non-EU residents to claim back up to 20% on purchases made in the country.
Chanel Prices in London
So how do Chanel prices in London compare to other cities? According to research conducted by Deloitte, London is one of the cheapest cities in Europe for luxury goods due to its weaker currency compared to the euro. In fact, shoppers can save up to 30% on certain items compared to prices in other European cities such as Paris or Milan.
Example Prices
- A classic flap bag costs around £4,600 ($6,000) in London compared to €5,500 ($6,800) in Paris.
- A pair of ballerina flats costs around £550 ($720) in London compared to €650 ($800) in Paris.
- A bottle of Chanel No. 5 perfume costs around £76 ($100) in London compared €98 ($120) in Paris.
VAT Refund
As mentioned earlier, the UK has a VAT refund program which allows non-EU residents to claim back up to 20% on purchases made in the country. This means that shoppers can potentially save even more on their Chanel purchases in London. However, it’s important to note that there are certain requirements and procedures that need to be followed in order to claim the VAT refund.
Requirements for VAT Refund
- You must be a non-EU resident.
- You must have spent a minimum of £30 ($40) in one store on the same day.
- You must provide proof of purchase (receipt) and your passport at the time of purchase.
- You must fill out a VAT refund form provided by the retailer and have it stamped by customs when leaving the EU.
Conclusion
So, is it cheaper to buy Chanel in London? The answer is yes – thanks to its weaker currency and VAT refund program, shoppers can potentially save up to 30% on their Chanel purchases compared to prices in other European cities.
However, it’s important to do your research beforehand and follow the necessary procedures for claiming the VAT refund. With some careful planning, buying Chanel in London can be a great way to save on luxury fashion purchases without compromising on quality or style.