For the first time, Chanel unveils its financial results
For the first time in its history, Chanel has decided to unveil its financial results, explains Les Echos in Paris. For the year ended December 31, 2017, Chanel posted a turnover of 8.3 billion euros ($ 9.6 billion), up 11% at constant rates. This places the company located Rue Cambon in Paris well in front of Gucci (Kering), whose sales amounted to 6.2 billion last year, and neck and neck with Louis Vuitton (LVMH), today the world’s leading luxury brand. Chanel’s operating profit amounted to 2.3 billion euros (2.7 billion dollars) in 2017, up 22.5%.