PARIS — Chanel is closing on luxury’s ultra-exclusive $20 billion threshold, reporting revenues gained 17 percent last yr to $17.22 billion, while operating profits rose 5.8 percent to $5.78 billion.
The French fashion house trumpeted double-digit growth across all product lines, and noted retail teams “nurtured local clienteles” during pandemic restrictions, alluding to lockdowns in China that dented luxury growth last yr.
Revenues in Asia-Pacific gained 14.3 percent to $8.65 billion on a comparable basis, stripping out the impact of currency fluctuations and changes in company structure. Revenues improved 29.6 percent in Europe to $4.72 billion and 9.5 percent within the Americas to $3.86 billion.
In an announcement, Leena Nair, Chanel’s global chief executive officer, said the strong financials “reflect the strength of...
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