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Chanel reveals $10bn revenues

French fashion house Chanel has revealed it brought in close to $10bn (£7.54bn) in revenues in 2017, after publicly disclosing its financial figures for the first time. 

The secretive brand launched by Coco Chanel in 1910 reported profits of $1.8bn (£1.35bn) last year, on sales of $9.6bn (£7.24bn).

The privately held firm, which is controlled by the Wertheimer family, saw sales rise by 11% on a constant-currency basis in 2017, mostly driven by Asian demand. The decision to reveal its revenues followed what was described as a “lengthy debate” within the company.

Chanel’s CFO Philippe Blondaiux said in a statement: “Our financial strength gives us the means to remain independent and to focus on the long term”.

 

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