In 2023, the luxury market is doing well. Chanel is no exception to the rule with 17.22 billion dollars (16.05 billion euros) in turnover in 2022, an increase of 10.1% over one year: "another year of record sales", exceeding the levels of 2019 (before the Covid-19 pandemic). The group owes its success in large part to its Fashion and Beauty divisions and its international clientele.
Chanel increased its workforce by 12%
And this "despite the uncertainties of the market," said Philippe Blondiaux, Chanel's chief financial officer, in a statement published on Thursday. "We remain confident in our ability to deliver sustainable and healthy growth, while remaining committed to our people, customers and brand." Famous for its tweed suits and its Number 5 perfume, Chanel "has (...) double-digit growth in all categories."
The house, created by Coco Chanel and now owned by the Wertheimer brothers, is one of the few in the fashion and luxury sector to still be independent. Last year, the group increased its workforce by 12% to more than 32,000 people worldwide. "This is due in particular to the growth recorded in areas such as those related to digital, information technology and sustainable development," the statement said.
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By region, sales increased 16.8% in Europe, 7.2% in Asia Pacific and 9.4% in the Americas. Chanel says its fashion collections "continue to be well received, with exceptional growth in all categories, particularly for leather goods and shoes."
The Perfumes Beauty division "benefited from the recovery" in travel, as well as from "sustained demand from local customers" while Watchmaking and Jewelry "continued to show solid momentum". Chanel says it has invested just over two billion dollars in the promotion of its brand, "including through customer events organized throughout the year, an increase of 14.3% compared to 2021".