First things first: CHANEL is not for sale. Second: the brand isn’t thinking of going on the stock market. Third: the griffe continues to grow. After a-year-long stretch of rumors, Philippe Blondiaux, CHANEL’s CFO, is clearing things up. While speaking with a Business of Fashion journalist, the manager explained that the brand’s revenue grew to 11.1 billion USD (about 9.89 billion euro), equal to +10.5% over the previous year, which was the first time the brand ever revealed its balance sheet results. Operational revenue was of 3 billion USD (+8%). The brand had positive results in all regions (Asia-Pacific +20%), Europe +8%, Americas +7%) and in all its categories (with a particular exploit of leather goods). “Our strategy is the exact opposite of the one that usually brings a brand to be sold off or be quoted on the market – states Blondiaux -. We have invested a lot and we did so with an eye towards the future. We increased the organic, even with the risk of eroding our short-term margins, which we aren’t concerned about, all to prepare ourselves for the future”. In fact, all requests sent by potential acquirers were returned back to the senders: “Being independent is a part of our DNA and part of our success – concludes the manager -. Unfortunately for many bankers, we remain a fantasy for them”.
CHANEL doesn’t sell ownership, nor enters the market: it just grows. Revenue up to 11.1 billion in 2018
