Chanel is a Billion Dollar Company

Chanel is a Billion Dollar Company

Chanel is a Billion Dollar Company

Chanel releases their annual numbers for the first time.

Chanel releases their annual numbers for the first time.

Text: Taylor Penn

Who runs the world? Chanel! The 108-year-old company just told the world who’s boss after publishing their annual results for the first time... ever.Being one of the only independent fashion legacies left, the fashion house is reportedly a nearly 10-billion-dollar company as of 2017.

Philippe Blondiaux, Chanel’s Chief Financial Officer told the New York Times, “We realized it was time to put the facts on the table as to exactly who we are: a $10 billion-dollar company with very strong financials.” There has been speculation as to whether or not the company released their numbers with thoughts of selling. Blondiaux established Chanel has no plan to sell now, or in the future, “We are not for sale, and absolutely nothing will change that.” Louis Vuitton is a close competitor with anywhere between 9-billion and 11-billion in annual sales.

Apart from the release, Chanel announced they opened a holding company in London to house all Chanel businesses and it’s 20,000 employees.

UP NEXT

Front Row at Louis Vuitton SS19 Men's
Virgil Abloh brought out an enviable squad to witness his debut LV collection including Rihanna, Naomi Campbell, Kylie Jenner, and more.