2023-05-25 14:02:35
Chanel in turn unveils record sales. Four months following the publication of the annual results of its French competitors LVMH and Kering, the fashion house owned by the brothers Alain and Gérard Wertheimer since 1996 announced, Thursday, May 25, by press release, to have achieved “solid financial performance” in fiscal 2022. Its sales increased by 17% compared to 2021, reaching 17.2 billion dollars, or 16 billion euros. Its profitability improved by 6% during the period, bringing its operating margin to 33.5%.
Led since January 2022 by Leena Nair, a former HRD of the Unilever group, the group known for its haute couture outfits and its ready-to-wear lines designed by Virginie Viard, its perfumes and its cosmetics has benefited from a renewed activity in Europe (+30%), despite the drop in sales to Chinese tourists in France (−14% compared to 2019). In Asia-Pacific, where the group generates 50% of its sales, activity has benefited from growth of 14% in 2022. On the American continent, a growing market since the pandemic, turnover increased by 9.5%.
In the United States, it grew to “two figures over the whole year”, says Archyde.com. Philippe Blondiaux, financial director of Chanel, however specified to the economic information agency that, in this country, “the trend has undoubtedly slowed since November 2022”. This remark will not fail to be analyzed by observers of the global luxury sector, a few weeks before the publication of the half-yearly results of the luxury groups LVMH, Kering and Hermès, scheduled for the end of July. The first two make 27% of their sales across the Atlantic. Hermès gets 18%.
Staff increase
Chanel will however continue to open stores in the United States, specifies Mr. Blondiaux. The group devoted 3.9% of its turnover to investment in 2022, i.e. 625 million euros. In addition, he spent almost 2 billion euros promoting his brand in 2022, which is 14.3% more than in 2021. “ In particular through customer events organized throughout the year »says Chanel.
In essence, the group thus underlines how much the 2022 financial year is a return to normal, following the years 2020 and 2021 marked by the cancellation of parades and promotional campaigns, given the global health situation. Fact, “in all categories”recalls Mr. Blondiaux, the brand exceeded the levels of activity recorded in 2019.
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