Chanel reveals for 1st time it's a $10 bn company

The numbers show Chanel is among the largest luxury brands in the world by revenues, outpacing rivals like Gucci and neck and neck with Louis Vuitton, according to global newswire reports.

The company’s revenues from sales of its No. 5 perfume, ready-to-wear collections and array of accessories have been a closely guarded secret until now.

Chanel was founded by Coco Chanel, an aspiring actress and seamstress, with the opening of a small millinery boutique in Paris in 1910.

The French fashion house said it had opened up its books to show that it had the size, and the willingness, to fend off any acquisition attempt.

Its total sales in calendar year 2017 were worth $9.62 billion, up 11 per cent compared to the previous year on a constant-currency basis, while operating profit was $2.69 billion. (DS)

Fibre2Fashion News Desk – India