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
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