PARS.- The group of luxury Chanel announced today -May 21- that it made sales record in 2023, a new exceptional year, with an increase of 14.6% to 19.7 billion dollars, while net profit was 4.7 billion dollars, with a progress of 3%.
“Chanel again achieved a solid financial result in 2023, with double-digit growth in all categories,” said Philippe Blondiaux, the group’s financial director, quoted in a statement, in which he also stressed that now – after three years of exceptional growth for the industry – the context is difficult.
Since the third quarter of 2023, the luxury market has declined in Europe and the United States and has not recovered the expected growth in China.
“But for Chanel, which does not specify its results quarter by quarter, sales increased in all markets, as sales teams continue to strengthen our ties with local clientele, at the same time as the lasting recovery of tourism occurs. “Blondiaux added.
Chanel’s presence in the world
In the Asia Pacific region, sales exceeded $10 billion, up 17.7%. The increase is stronger in Europe (+18.8% to 5.6 billion dollars), but was modest in the US area (+2.6% to 3.9 billion). The company, created by Coco Chanel and famous for its dresses in tweed or for its perfume number 5, it is property of the Wertheimer brothers. It is one of the few in the fashion and luxury sector to remain independent.
Chanel does not publish the financial achievements of each of its branches, but states in its statement that the fashion activity experienced exceptional growth in all categories.
The Parfums Beaut division was driven in particular by makeup and sales at airports. And the jewelry store continued its dynamic.
FUENTE: AFP
