Both sales and profits at the Rue Cambon fashion house fell last year. However, the luxury group will continue to invest heavily, particularly in its Chinese and US stores.
Until now resilient, Chanel was not among the winning luxury groups in 2024, such as Hermès and Prada.
However, the luxury group is not tightening its purse strings and continues to invest heavily, particularly in China and the United States, two important markets despite their difficulties.
Asia-Pacific heavily impacted
The Rue Cambon-based company’s revenue fell by 4.3% to $18.7 billion (€16.2 billion), while its net profit fell by 28.2% to $3.4 billion (€3.8 billion).
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Featured photo: © Chanel
