Karl Lagerfeld Paris

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WWD

Fashion-tech start-ups Stitch Fix, Everlane and Rothy’s are coming of age, and a new creative class is starting to emerge in San Francisco.

19 Jun 19
Newsy Today

In addition to the 60 designer parades registered in the calendar of the Federation of haute couture and fashion, off the catwalks Paris teems with places where creation is in the spotlight. Follow the guide. Paris is a showcase of fashion internationally. Creators, buyers, journalists meet during Fashion Week in search of novelties. The parade […]

19 Jun 19
Archy Worldys

In addition to the 60 designer parades registered in the calendar of the Federation of haute couture and fashion, off the catwalks Paris teems with places where creation is in the spotlight. Follow the guide. Paris is a showcase of fashion internationally. Creators, buyers, journalists meet during Fashion Week in search of novelties. The parade […]

19 Jun 19
Newsy Today

It seems far from the time when men were not interested in fashion. The metrosexuals of the years 1990-2000 are from now on drowned in the mass. The proposals of the men's fashion designers bear witness to this: they are always more varied, inspired, capable of refreshing risk taking, hybridizations that make them desirable and […]

18 Jun 19
Archy Worldys

It seems far from the time when men were not interested in fashion. The metrosexuals of the years 1990-2000 are from now on drowned in the mass. The proposals of the men's fashion designers bear witness to this: they are always more varied, inspired, capable of refreshing risk taking, hybridizations that make them desirable and […]

18 Jun 19
WWD

The biographical tome charts von Furstenberg’s long and varied life as a young princess, a socialite who commanded the fashion and film world’s attention and a woman that faced many a shortcoming as a mother and wife.

18 Jun 19
The Australian

Chanel clocked up sales of nearly 10 billion euros ($A16.4 billion) in its final year under the late designer Karl Lagerfeld, the French label said.

17 Jun 19
Newsy Today

LONDON – For the past few months Chanel has lost his long-standing creative director to the death of Karl Lagerfeld, and was subject to ongoing speculation of industry rivals like LVMH Moët Hennessy Louis Vuitton. But the historians fashion house, owned by the billionaire secret brothers Alain and Gerard Wertheimer, increased profits and income were […]

17 Jun 19
BCNN1 WP

Luxury fashion group Chanel, whose star designer Karl Lagerfeld passed away in February, on Monday reaffirmed commitment to its independence after reporting higher annual sales and profits. The French company’s move last year to publish financial results for the first time since it was founded in 1910 by Coco Chanel has fueled speculation about a […]

17 Jun 19
Footwear News

“It will never happen,” CFO Philippe Blondiaux said about rumors of a sale or IPO of the luxury brand.

17 Jun 19
MagaOneNews
FILE PHOTO: A woman walks past the logos of French luxury goods maker Chanel in Nice
FILE PHOTO: A woman walks past a wall with logos of French luxury goods maker Chanel in Nice, France, February 22, 2017. REUTERS/Eric Gaillard/File Photo

June 17, 2019

By Pascale Denis

PARIS (Reuters) – Luxury fashion group Chanel, whose star designer Karl Lagerfeld passed away earlier this year, reported higher annual sales and profits on Monday and once again reaffirmed its independence, stating it was not for sale.

Chanel said its 2018 revenues rose 12.5% to $11.12 billion, while net profits climbed 16.4% to $2.17 billion.

The French fashion house, known for its tweed suits and quilted handbags, enjoyed growth across all of its markets, with Asia-Pacific leading the way with a 19.9% rise in annual sales, compared to a 7.8% rise in Europe and 7.4% in the Americas region.

The label’s move last year to release its financial results for the first time since it was founded in 1910 by Coco Chanel fueled speculation the group was preparing for a sale, despite its consistent denials.

Chief Financial Officer Philippe Blondiaux again told Reuters that the company was not for sale and was not planning any stock market listing.

“We’ve got to live with the fact that we are one of the most desirable brands in the market. These rumors will unfortunately keep coming back on a regular basis,” said Blondiaux.

“Chanel needs to remain independent, in order to have the freedom to make choices that go against the grain, such as no longer using exotic animal skins, or by harmonizing prices,” he added.

In May, Chanel’s new creative chief Virginie Viard delivered her first solo collection for the brand in the wake of Lagerfeld’s death, and Blondiaux said Chanel saw Viard as being with Chanel for the long-term.

(Reporting by Pascale Denis; Editing by Sudip Kar-Gupta and Susan Fenton)

Source: OANN

17 Jun 19
WWD

“It will never happen,” chief financial officer Philippe Blondiaux said of rumors of a sale or initial public offering of the $11-billion luxury brand.