Chanel has invested over $300 million in real estate in 2014
According to French weekly business magazine Challenges, since the start of this year, CHANEL has invested $US337.9 million at current exchange, in real estate, of which 85 per cent was in Paris. This was principally to acquire ownership of its stores.
Last year, CHANEL posted net profits of $US964.2 million, versus $US1.5 billion, in 2012, according to Challenges. The magazine reported Chanel’s operating profits for 2013 was $US1.53 billion, up 8.5 per cent versus 2012. Meanwhile, company sales also gained 8.5 per cent, to $US6.61 billion, in 2013.