![]() ![]() Profit rose 18.5 percent from a year earlier to $1.79 billion. “Instead of having others report (about us), we’ve decided to put the facts on the table about who we are,” he added, saying the brand, which has long relied on octogenarian Karl Lagerfeld for its womenswear designs, had previously preferred to let its creative officials speak instead.Ĭhanel posted revenues of $9.62 billion (£7.2 billion) for 2017, an 11 percent rise from a year earlier at constant currencies, helped like its peers by a strong performance in Asia Pacific especially, where sales grew 16.5 percent. ![]() “It’s exactly the opposite - this financial statement shows that we are amazingly solid financially and we can keep our status as a private, independent company for the next few centuries,” Blondiaux said in an interview. He also ruled out a sale of Chanel - long seen as a covetable label for conglomerates like LVMH LVMH.PA or Kering PRTP.PA which have a wardrobe full of designer brands. Publishing its results was "absolutely not" a precursor to a stock market listing, Chief Financial Officer Philippe Blondiaux told Reuters. ![]() It also has a maverick streak, being one of the few brands which refuses to sell its clothes online. The privately-owned company, famed for its tweed suits, cushioned handbags and No5 perfumes, has long intrigued the fashion industry by keeping a close lid on its numbers. FILE PHOTO: Chanel logo is seen on the company's store in Monte Carlo, Monaco, December 9, 2017. ![]()
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