Despite the headwinds, the luxury brand continues its strong growth.
Chanel seems unfazed by the clouds gathering over the global economy. “Despite the difficulties that we have seen in China, Russia or elsewhere, we are maintaining the growth rate observed in the last months of 2021.confides Philippe Blondiaux, the financial director of Chanel. In April, despite a double-digit drop in sales in China, our worldwide sales grew by double-digits. »
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The impact of the closure of a third of Chanel stores in mainland China, due to the confinement imposed by the local authorities confronted with Omicron, is therefore largely offset. The growth of the house is strong elsewhere in Asia (notably in Singapore, Taiwan and Malaysia), in Europe, where tourists are finally returning, and in the United States, the main engine of growth in luxury for eighteen months. “Even as the signs of recession accumulate, we remain confident for 2022assures Philippe Blondiaux. The strength of our brand will allow us…
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