Chanel posts record 38% profit increase
According to MFFashion, French luxury giant Chanel archived 2014 with record profits. The brand registered a net profit of approximately 1.23 billion euro , posting an increase of 38 percent . Revenues exceeded 6.6 billion euros , bringing profitability to 20 percent. According to analysts , the exceptional performance has been achieved thanks to the great popularity that the French brand has acquired in China .
Chanel’s owners, the Alain and Gerard Wertheimer brothers saw their capital worth to jump to 10.4 billion euro, a 2,6 billion euros addition to January 2014. The Weitheimers own French lingerie brand Eres, Scottish cashmere brand Barrie, luxury watchmaker Bell&Ross and several other companies which are direct suppliers to the house of Chanel.