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1.
1. Anything that single-handedly represents a touch of class, flair or panache amidst otherwise ordinary or mundane settings.

2. A luxury, often wielded by someone undeserving or unqualified.
1. "We just sold our best player, we've lost our Champagne Chic."

2. "His girlfriend bestows upon his youthfulness a sense of Champagne Chic."
by Myxomatosis August 12, 2011