.Chanel said revenues grew by double digits in the first six months of 2021.
PARIS – Chanel said revenues grew by double digits in the first six months of 2021, and its full-year operating profit margin is on track to return to 2019 levels. The French luxury house reported on Tuesday that revenues totalled $10.1 billion in 2020, down 18 percent at comparable rates.
In addition, some 600 artisans earlier this year moved into a sprawling building in the north of Paris that houses more than a dozen of the company’s specialty ateliers. The list of these continues to grow, with 39 entities sitting within the group’s Paraffection division. However, he confirmed the company has started making plans for the succession of its 72-year-old chief executive officer Alain Wertheimer.
Fashion sales were up by double digits in all categories before the onset of the pandemic. While trading was heavily impacted by the closure of stores worldwide, this was slightly offset by the development of new client-facing tools, including an app launched in May in different regions providing concierge shopping services for established clients.
The company last year laid out its sustainability goals in an initiative known as Chanel Mission 1.5 aimed at tackling climate change in line with the targets of the 2015 Paris Climate Agreement. Every move is geared towards limiting mean global temperature increase to 1.5 degrees Celsius, a figure set out in the Paris agreement, and addressing waste across the company.
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