Chanel Haute Couture gowns shot by Karl Lagerfeld at Palace in Scotland to mark his 30th anniversary at the maison (photo Vanity Fair)
”When you get the right product, everything is going very quickly, perhaps more quickly than what we have seen in the past,” says Bruno Pavlovsky, President of Fashion at French maison Chanel. Fragrance and watch sales are “doing very well,” he said. When Chanel stocked boutiques in November with its latest range of 4,000-euro ($5,380) dresses and 3,200-euro quilted handbags for winter getaways to places such as St. Barts, the company wasn’t sure how consumers would react. “We were a bit skeptical about the global environment,” said Bruno Pavlovksy, who heads closely held Chanel’s fashion division. Two months later, “more or less everything is sold out. It was quite a surprise.”
At $6.68 billion, the maker of the No. 5 perfume and tweed jacket-and-skirt-suit is the world’s fourth most-valuable luxury brand after Louis Vuitton, Hermes and Rolex, Millward Brown Optimor estimated in its 2012 BrandZ study. Chanel doesn’t disclose sales. While Chanel has established a “high position” in apparel and leather goods, it gets the bulk of its 6.5 billion euros of retail equivalent sales from high-margin fragrances and cosmetics, estimates Solca. That allows Chanel to be generous when building its brand
adapted from Bloomberg
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