CHANEL sees a gradual recovery in its business

Speaking in Dubai at an event organized by French luxury association Comite Colbert, Francoise de Montenay, supervisory board president of CHANEL told reporters that the luxury sector would continue to see growth despite the global financial crisis. Ms Montenay stressed that Chanel’s sales have improved since the summer, and business in the United States is recovering but has yet to return to pre-crisis levels,

"This year we are really facing a huge, huge increase in our sales — both in fashion and perfume and beauty," Montenay told Reuters in an interview at the high-end "fashion avenue" section of the Dubai Mall, one of the world’s largest. "Even last year was a good year for fashion and fine jewelry. It was a little more difficult for perfume and beauty."  She also added that she expects sales in the United States to maintain a recovery which began in February.

"It’s not what it was before, but it’s really recovering, with new customers with a good appetite for nice products and good quality."