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The French fashion house Chanel has reached a new investment record, the billion dollar, a sum never seen in its history and which represents 11% of its sales from its boutiques, production, and digital.
In 2020, the historic fashion house Chanel posts a record number of investments, amounting to more than a billion dollars despite the pandemic being a good 45% compared to 2019, and which represents 11% of its sales in its stores, production, and digital.
A strong recovery is thus expected for the coming months while its operating income fell by 18% last year and its sales lost 41%.
“It started again in September, with an acceleration since the beginning of 2021, where we record a double-digit growth compared to 2019“, explains the group’s financial director, Philippe Blondiaux, interviewed by Les Echos.
All sectors of the house show satisfactory results, except that of perfumes and makeup, which remains affected by the absence of travelers in airports caused by restrictions imposed on the tourism sector.
According to Bain & Company, the house on rue Cambon should return to its pre-crisis level this year. The cash flow has already risen to higher levels, with one billion dollars in 2020, against 282 million in 2019.
These figures are explained in part by the various exceptional measures taken during the health crisis, such as the waiver of dividend payments, which amounted to $1.7 billion in 2019.
“It has been a difficult year, but rich in lessons learned,” confides Philippe Blondiaux. “Despite the crisis, we have remained true to our values, protecting our employees, customers, and suppliers who are sometimes in a delicate situation, while knowing that this would have a negative impact on our profitability“.
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The French fashion house Chanel has reached a new investment record, the billion dollar, a sum never seen in its history and which represents 11% of its sales from its boutiques, production and digital.
In 2020, the historic fashion house Chanel posts a record number of investments, amounting to more than a billion dollars despite the pandemic is a good 45% compared to 2019, and which represents 11% of its sales in its stores, production, and digital.
A strong recovery is thus expected for the coming months while its operating income fell by 18% last year and its sales lost 41%.
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The French fashion house Chanel has reached a new investment record, the billion dollar, a sum never seen in its history and which represents 11% of its sales from its boutiques, production and digital.
In 2020, the historic fashion house Chanel posts a record number of investments, amounting to more than a billion dollars despite the pandemic is a good 45% compared to 2019, and which represents 11% of its sales in its stores, production, and digital.
A strong recovery is thus expected for the coming months while its operating income fell by 18% last year and its sales lost 41%.
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