Luxury fashion house Chanel has reportedly raised 700 million euros in a U.S. private placement . Goldman Sachs Group Inc. and Société Générale SA are the major investors, Bloomberg reports, citing sources close to the matter.
A private placement is a financing round that is only available to a select group of investors. It is not offered to the general public and is therefore also called a non-public offering .
Earlier this year, the company’s annual report revealed an increase in both revenue and profit for Chanel. The company recorded a turnover of 19.7 billion euros (+16 percent compared to a year earlier). Operating profit rose by 10.9 percent in the financial year to a level of 6.4 billion euros.
Chanel jewellery store New York
More from NEWS
Bvlgari launches the new ‘Bvlgari Tubogas’ collection
Italian luxury jeweller Bvlgari has launched the Bvlgari Tubogas collection, inspired by the iconic technique that defined the Maison’s avant-garde approach to …
Watches of Switzerland Group acquires Hodinkee, the online media and consumer services platform
Watches of Switzerland Group has acquired the online media and consumer services platform Hodinkee, aimed at collectors and timepiece enthusiasts. …
Loro Piana opens new store in Milan at Galleria Vittorio Emanuele II
Loro Piana has recently opened a new store in Milan at the Galleria Vittorio Emanuele II. The LVMH-owned luxury brand …
