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Full house for Chanel<\/strong>. On Tuesday May 21<\/strong>, the French luxury goods group announced record annual sales for the third year running in 2023, up 14.6% to 18.2 billion euros<\/strong>. This exceptional performance is due in part to an increase in the average selling price.<\/p>\n <\/p>\n By way of comparison, last year Herm\u00e8s sales rose by 21% to 13.4 billion euros.<\/strong> On the other hand, fashion and leather goods sales at LVMH, the world’s largest luxury group, rose by 14% to 42 billion euros<\/strong>.<\/p>\n <\/p>\n At Chanel, net profit growth slowed (+3% vs. +14.2% in 2022)<\/strong>, but still took it to 4.3 billion euros<\/strong>.<\/p>\n <\/p>\n “Chanel again achieved a solid financial performance in 2023, with double-digit growth in all categories (…) After three years of exceptional growth for our industry, the context is more challenging,”<\/em> said Philippe Blondiaux<\/strong>, Chanel CFO.<\/p>\n <\/p>\n <\/p>\n Chanel sales in Asia Pacific exceeded 9.2 billion euros, up 17.7%.<\/strong> In Europe, growth was even more pronounced, with an increase of 18.8% to 5.1 billion euros<\/strong>. By contrast, growth in the United States was more modest<\/a>, rising by just 2.6% to 3.6 billion euros.<\/strong><\/p>\n <\/p>\n Chanel’s Fashion business enjoyed “exceptional growth”<\/em>, particularly in Ready-to-Wear, under the creative direction of Virginie Viard<\/strong>. Since she took over from Karl Lagerfeld in 2019<\/strong>, the ready-to-wear business has increased 2.5-fold, with 23%<\/strong> growth last year.<\/p>\n <\/p>\n The Perfumes & Beauty division was particularly buoyed by “make-up, thanks to the sustained recovery in travel retail”,<\/em> particularly in airports. Jewelry also continued its positive momentum<\/a>, contributing to Chanel’s good overall results.<\/p>\n <\/p>\n In addition, the company has increased its workforce by 14%<\/strong> in 2023, to more than 36,500 employees.<\/p>\n <\/p>\n <\/p>\nGrowth in all sectors<\/h2>\n
Expansion plan<\/h2>\n
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