I’m late to the party but I am so curious to hear what you ended up getting. Both are great bags and you really can’t go wrong, but if I had to pick I’d vote for the reissue (assuming you like big bags...the 227 is definitely on the bigger side). Chanel is simply timeless.
I actually had a medium puzzle in black that I liked but ended up selling for a couple reasons...
1. I picked a bad color (in my opinion). One of the best parts of the puzzle bag is the contrast between the leather pieces and the “seams” between them (usually black), creating the look of puzzle pieces. But my black bag had black seams which ultimately defeated the purpose a bit - it looked great up close but from a distance it all blended together and just looked like a solid rectangular bag. So unless you’re really into a minimalist look, I wouldn‘t get the puzzle bag in black. The tan is the most popular and really does show off the design of the bag brilliantly.
2. I got sick of it. Even though it’s been around for a few years, it really is more of a trendy bag and I simply grew tired of it after a while. On the other hand, I never seem to tire of Chanel.
If you do end up going for the Loewe, I would also echo the sentiments of the person who recommended the medium over the small puzzle bag. The opening of the small is really tiny and awkward. And if at first you are worried that the medium bag might seem too big (initially it does kind of feel like you’re carrying a giant rectangular box), the top part of the bag relaxes in fairly short order giving the bag a more manageable, less structured look and feel. Most people (myself included) think the top sag enhances the look and character of the bag.
One more thing...if you think you may want to sell your bag down the road, chances are the reissue will hold its value better than the puzzle bag. Because the puzzle bag isn’t a classic, at least not yet, it may actually end up looking dated in a few years, which would definitely impact the resale value (take a look at the resale values for the Celine trapeze bag or the
Fendi monster peekaboo, as examples - their resale is a small fraction of the original price tag. The Chanel classic flap seems to hold its value better than most other bags (excluding Birkins and Kelly’s, of course), but the reissue isn’t that far behind, so if you tend to rotate your collection over time, Chanel is a safer bet.
But like I said, you really can’t go wrong as long as you love whatever it is you buy. Please post pics of your final decision...new bags are such fun! Enjoy