Chanel profits drop sharply as luxury downturn bites

Chanel Spent €118 Million on Paris Building Near Flagship Store

Chanel Ltd. splurged on a property near its main boutique in Paris last year as luxury brands seek to secure prime locations for their stores.

How China Is Crippling Global Luxury Brand Louis Vuitton's Parent Company

LVMH warns of weakness in key markets, especially China, affecting brands like Louis Vuitton, Dior, and Tiffany & Co. Investors remain cautious amid sector uncertainty.

The profits of Chanel Ltd. plummeted last year because the private company wasted money on expanding its retail network and marketing to remain visible in the midst of a crisis in the luxury industry. Operating profit fell by 30 percent, to $4.4 billion, while revenues fell by 4.3 percent in comparable terms, according to the company in a statement on Tuesday. The region that includes China — which generates about half of Chanel’s revenue — expe…

The luxury group Chanel, faced with "more difficult" market conditions, announced on Tuesday 20 May a fall of 28.2% of its net profit in 2024 to $3.4 billion.

Chanel reports 28% drop in full-year profit to $4.4b

Chanel 2024 sales in the Asia-Pacific region plummeted 9.3 per cent. Read more at straitstimes.com.

Chanel reports 28% drop in full-year profit

French luxury group Chanel said Tuesday that it suffered a 28.2-percent drop in net profit to $3.4 billion last year because of "challenging" conditions in some markets.