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quite possibly! i remember enquiring about the price of a ritz bag last year (SG$4k+++) and i was shocked at how much more expensive it was than in the US (US$2k+)!
I just got back from Europe, and saw the timeless clutch in the Hamburg Chanel store, I was tempted to buy it, had hold it in my hands and decided that I won't get it as I don't go to anything fancy anymore... just regular dinners and hang out with friends. So I put it back in the shelf
but I never checked on the price tag at all. I got other bags instead of the clutch. I found that the prices among European stores mostly the same...