Chanel releases full 2021 results

Worldwide
Published:  26 May, 2022
Credit: Chanel

Chanel has announced its financial results for the full 2021 year with revenues of US$15.6 billion, an increase of 49.6% over 2020 and 22.9% over pre-pandemic 2019.

The company’s operating profit for the period was US$5.46 billion, an increase of 170.6% compared to 2020 and 57.5% against 2019.

Despite the pandemic affected business, Chanel noted that sales reached record highs in all product categories in 2021.

The Fashion category was driven by double-digit growth in all product lines, with particularly strong results in leather goods and ready-to-wear products, while watches and fine jewellery also saw double-digit growth driven by the watches, precious jewellery and high jewellery ranges.

Philippe Blondiaux, Global Chief Financial Officer, said: “Despite the challenging backdrop in 2021, our results highlighted remarkable customer demand particularly from our local client base, driven by the dedication and creativity of our teams to bring our clients’ dreams to life through unique experiences.

“2022 will be another year of significant investment to support the long-term health of the Chanel brand and to deliver our sustainability ambition, whether in our people, continued focus on quality, customer experience, our boutiques or in our supply chain transformation.”