• Chanel dispels rumors of sale after announcing a strong financial year

    1 month ago - By Fashion United

    Chanel surpassed 11.1 million dollars in sales for the 2018 financial year. The privately-owned luxury company announced in a statement that it feels these results demonstrate its financial strength and its commitment to sustainable, long-term value creation.
    The company had an operating profit of 2,998 million dollars in 2018, which is up 8 percent from the year before. There was a free cash flow of 1,214 million dollars in after significantly increased capital expenditures, which increased to more than 1 billion dollars.
    “Chanel has had another strong year," said chief global financial...
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  • Chanel Denies IPO Claims Following $11Bn USD Sales Report

    Chanel Denies IPO Claims Following $11Bn USD Sales Report

    1 month ago - By Hypebeast

    Chanel has squashed the rumors that it would be preparing for an IPO following the announcement the luxury French fashion house has surpassed sales of $11bn USD since last year. The news follows the death of Karl Lagerfeld - who passed away in February - seeing Virginie Viard take the helm. In an interview with The Business of Fashion , Chanel's global chief financial officer Philippe Blondiaux said, "Chanel is not for sale, Chanel is not preparing for an IPO, I just want to reconfirm that for the hundredth time this year... The numbers we've shared show that our strategy is exactly the...
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