After years of sustained growth and sharp price increases, Chanel closes 2024 with a 4,3% decrease in its turnover, stopping at around 18,7 billion dollars. Operating profit also suffers a significant decline, settling at around 4,5 billion, with a decrease of around 30% compared to the previous year.
The Chinese market, which has long been a driving force of luxury sales, showed signs of weakness, due to an uncertain economic context and geopolitical tensions. The United States also recorded a decline in demand. Europe, on the other hand, maintained a slight growth, offering a partial balance.
In recent years, Chanel has significantly increased the prices of its flagship products, such as its iconic bags, aiming to create a perception of exclusivity. However, this strategy has begun to encounter resistance, with part of the clientele questioning the relationship between price and perceived value.
Despite the downturn, the maison continues to invest in the future: almost 1,8 billion dollars have been allocated to capital expenditures. The investments mainly concern the expansion of the retail network, the improvement of the in-store experience, sustainability and the strengthening of the production chain.
New openings are planned in key countries such as China, India, Canada, the United States and Mexico. Chanel thus demonstrates its desire to maintain a solid position on the global market, focusing on quality, craftsmanship and local roots.
2025 also marks an important transition in artistic direction: Matthieu Blazy, known for his balance between innovation and respect for sartorial tradition, will take the creative reins. His debut is expected in the fall, with the presentation of the Cruise 2025/2026 collection.
The latest Cruise collection was presented in the evocative setting of Villa d'Este, on Lake Como. The event, characterized by soft colors and refined silhouettes, celebrated an aesthetic inspired by the timeless elegance of the Italian Riviera, between references to the Dolce Vita and homages to classic femininity.
While going through a phase of adjustment, Chanel confirms its long-term strategy. In an increasingly selective and unstable luxury market, the house focuses on innovation, artisanal excellence and a strong brand identity to face future challenges.