I have the reissue version of this wallet. I bought it for the specific purpose of putting my iPhone 5s in it. Thankfully when I upgraded, my iPhone 6s fit as well. When I bought it the salesperson suggested putting my phone in it. I was originally looking for a clutch. Another salesperson at a different Chanel was horrified when she saw me do it. She said I was going to ruin/stretch out the zipper. So far it's held up like a champ. No problems. Have you seen the inside? It had two sides separated by a zippered compartment. One side for bills, one side for my phone. Mine is the 8" size.
It took a minute to get over the shock of the price but then I remembered I purchased a Valextra wallet a few years ago that was just as expensive so I went ahead and just bought it. It is big and holds a lot.