Despite a drop in sales in China due to containment measures imposed since March to combat the coronavirus epidemic, luxury group Chanel remains confident of another year of solid growth, its chief financial officer said Tuesday.
The luxury group announced sales of $15.6 billion (14.57 billion euros) for 2021, up 49.6 percent from the previous year.
A figure all the more staggering as Philippe Blondiaux said that about a third of the group’s perfume and cosmetics stores and five of its 16 fashion and jewelry stores in China were currently closed due to health restrictions.
The group owned by brothers Alain and Gerard Wertheimer, known for its tweed jackets and quilted handbags, recorded a double-digit drop in sales in China in April. A result that contrasts with the jump in its sales worldwide thanks to demand from other Asian countries and the dynamism of the American market in particular.
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Featured Photo : © Chanel
