Chanel news and archive

Chanel ventures into wearable tech with innovative timepiece

In a bold move that signals a shift in the luxury goods sector, Chanel has unveiled its first wearable technology design with the Première Sound watch, that hasn’t compromised on either style or luxury. This innovative timepiece, which doubles as a necklace, incorporates integrated wired headphones, a microphone, and remote control...

Business

Chanel buys 25 percent stake in watch brand MB&F

Chanel SARL, the Swiss entity of Chanel, and watch brand MB&F are joining forces. Chanel is taking a strategic stake in the high-end independent watchmaker the companies announced in a press release. The stake is 25 percent. Frédéric Grangié, chairman of Chanel Watches & Fine Jewellery, shared: “We are delighted to enter into a strategic...

Business

Farfetch to shutter software service in strategic pivot

Farfetch, the luxury e-commerce platform now under Coupang's ownership, is reportedly ceasing operations of its Farfetch Platform Solutions (FPS), a once-flagship software-as-a-service product. This move, as reported by Business of Fashion, signals a strategic shift towards cost reduction and a renewed focus on its core marketplace business. The...

Business

'Chanel raises 700 million euros'

Luxury fashion house Chanel has reportedly raised 700 million euros in a U.S. private placement . Goldman Sachs Group Inc. and Société Générale SA are the major investors, Bloomberg reports, citing sources close to the matter. A private placement is a financing round that is only available to a select group of investors. It is not offered to the...

People

'Chanel appoints new CEO of French subsidiary and CFO of Europe'

Major changes at the top of Chanel: Fabrice Raoul has been promoted to CEO of the French subsidiary Chanel SAS and CFO Europe, Milanese news platform MF Fashion reports. Raoul takes over from Luc Dony, who reportedly retired in March. Raoul is no newcomer to the luxury fashion market. According to his LinkedIn page, he worked for several...

Fashion |Opinion Featured

The founder's dilemma: evolving luxury brands beyond their creators

The luxury fashion landscape is in constant flux, with the departure of founding designers presenting a formidable challenge, particularly for younger brands. As Tom Ford navigates a pivotal transition following Peter Hawkings' brief tenure as creative director, it joins the ranks of houses like Helmut Lang, Martin Margiela and Jil Sander in...

Business

Givenchy needs creative revitalisation as new CEO takes helm

LVMH-owned Givenchy is embarking on a critical phase of restructuring, with the appointment of Alessandro Valenti, a former Louis Vuitton executive, as its new CEO. This move underscores the luxury house's pressing need for both operational and creative rejuvenation. The storied maison, once a powerhouse in ready-to-wear and haute couture within...

Fashion

Chanel to present Métiers d'Art Collection in Hangzhou, as creative director announcement looms

French luxury house Chanel will unveil its next Métiers d'Art collection on December 3 in Hangzhou, China. As the maison continues its search for a new creative director, the show will proceed as planned, mirroring the approach taken for the haute couture collection presented in June, which was led by the company's studio team. It is now widely...

Fashion

Chanel at fashion week without designer Viard

Awkward! Chanel held its haute couture show on Tuesday just three weeks after the very abrupt departure of creative director Virginie Viard after almost 30 years with the brand. Viard worked alongside the legendary Karl Lagerfeld for years before taking over at the helm after his death in 2019. She oversaw record sales of nearly 20 billion...

Fashion Featured

Chanel to part ways with its artistic director, Virginie Viard

A notable vacancy has emerged at Chanel as artistic director Virginie Viard announces her departure. The news, first reported by Business of Fashion on Wednesday evening, marks a significant shift for the iconic fashion house. In an email statement, Chanel confirmed, "Chanel confirms the departure of Virginie Viard after a rich collaboration of...

BusinessFeatured

Chanel's full year 2023 sales accelerate to 19.7 billion dollars

In 2023 Chanel’s results for the full year were driven by strong growth across all product lines with revenues of 19.7 billion dollars, up 16 percent versus 2022 on a comparable basis at constant currency and by 14.6 percent on a reported basis. The company's operating profit for the year of 6,407 million dollars, increased 10.9 percent....

Fashion

Chanel unveils 2024/25 Cruise collection in Marseille

Chanel's latest Cruise collection unveiling marked a departure from the norm as the iconic luxury brand set its sights on Marseille, France's bustling port city. Amidst the tradition of luxury brands jetting off to far-flung locales for Cruise season, Chanel's choice of Marseille highlights the city's unique standing in France's fashion...