Chanel Revenues Gained 17% in 2022

25 May

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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24 Apr

Valentino Reports Profitability, Sales Growth in 2022

by Beautifaire101

Beauty, Featured

MILAN — A rebalancing of its retail and wholesale channels contributed to Valentino’s gains in revenues and profits last 12 months. Within the 12 months ended Dec. 31, sales on the Rome-based couture house reached 1.42 billion euros, climbing 15 percent compared with 1.23 billion euros in 2021. At constant exchange, revenues rose 10 percent. “After years of single-digit growth, we succeeded in going beyond,” said chief executive officer Jacopo Venturini proudly. He attributed this to a change in the corporate’s business model. Valentino reported 21 percent growth in its directly operated stores network, including e-commerce, while the wholesale channel registered a 6 percent decrease. “These results are fully in keeping with our strategy of rebalancing wholesale versus retail by increasingly reducing the wholesale activity...

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7 Feb

Bain: China’s Luxury Market Contracted 10 Percent in 2022

by Beautifaire101

Beauty, Featured

LONDON — With waves of tense lockdowns and rounds of crackdowns on the tech, real estate and entertainment sectors in 2022, China’s personal luxury sales contracted for the primary time in five years, a Bain report published Tuesday revealed. The “Setting a Recent Pace for Personal Luxury Growth in China” report estimated that spending in the private luxury space in China shrank by 10 percent in 2022. Just about all luxury categories were impacted, but those with higher online penetration, similar to luxury beauty, performed higher than those with a smaller online presence. The report said the watch market saw the sharpest decline, with sales falling by 20 percent to 25 percent from 2021. Fashion and lifestyle categories saw a 15...

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21 Dec

Forces in Fashion, Design and Culture: A Take a

by Beautifaire101

Beauty, Featured

While the collective mourning that followed the death of Queen Elizabeth II in September was incomparable, the realms of fashion, beauty, interior design, architecture, photography, politics, media and retail each lost some towering figures, who helped to accumulate their respective industries. Leading designers who died in January included Nino Cerrutti, 91, who was credited with creating the primary deconstructed jacket for men, and Manfred Thierry Mugler, a multidisciplinary talent who helped define ’80s power dressing and launched the phenomenon of celebrities-as-models, who died at age 73. Fashion also said farewell in August to Issey Miyake, a standout for his cutting-edge fabrics and bestselling perfumes, who died on the age of 84. Miyake was one among the primary Japanese designers to indicate...

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