Chanel Made Nearly $10 Billion Last Year, Making it One of the Highest Grossing Brands

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People are abuzz ever since Chanel released its yearly earnings; something that has never before been done in the French fashion house’s history. Up until this point, the brand had been rather secretive about its earnings. What is the total number you may ask? As of last year, Chanel earned exactly 9.62 billion dollars in revenue, which was an 11% increase from its earnings in 2016, which were reported to be $8.63 billion.

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Up until this point, Chanel was not required to release its earnings as it was not owned publicly traded company. The brand has continued to be privately owned for over a century and is now in the hands by brothers Alain and Gerard Wertheimer. This has allowed the company to keep the exact total of its wealth a secret.

Nonetheless, one always had to guess that one of fashion’s most well-known labels was quite profitable. The brand is known for its extravagant shows and promotions, such as launching an actual rocket with the brands’ logo into the sky during Paris Fashion Week. Also, who could forget the time they put together the adorable Chanel supermarket? Or, the time that they built a runway resembling a river canyon.

These earning officially place the luxury brand above Gucci, which is priced at $7.1 billion. Chanel may be tied with another brand owned by Kering; Louis Vuitton. The brand’s earnings have yet to be released, but the New York Times reportedly estimated the company’s earnings to be somewhere between $9 billion to perhaps even $12 billion.

This only leaves the question of why Chanel, after years of privacy, has finally decided to publish its earnings. According to Phillippe Blondiax, the brand’s chief financial officer, Chanel does not plan on selling anytime soon. Rather, he views this as proof that Chanel can remain privately owned “for the next few centuries.”

Proud Latina Feminist. My likes include strong coffee, watching the previews that come on before the movie, and things that come in pretty packages. I've been a bibliophile and fashion lover since well before I could read or tie my own shoes.

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