Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Investments»Despite a drop in sales in 2024, the luxury group maintains its investments
    Investments

    Despite a drop in sales in 2024, the luxury group maintains its investments

    May 21, 20252 Mins Read


    The Chanel store on Avenue de la Toison d'Or in Brussels, Belgium, December 26, 2024.
    The Chanel store on Avenue de la Toison d’Or in Brussels, Belgium, December 26, 2024. HATIM KAGHAT / AFP

    Chanel needs new blood. The company’s 2024 annual results – which closed at the end of December and were released on Tuesday, May 10 – made that clear. The haute couture house, founded in 1910, saw its revenue tumble by 4.3% to €17.9 billion.

    “Following a period of exponential growth, in 2024 we saw challenging macroeconomic conditions,” Chanel CEO Leena Nair told Le Monde. Sales had soared by 16% in 2023, following a 17% rise in 2022. “Revenues nearly doubled over the previous three years,” Nair added.

    Chanel suffered a sharper setback than the fashion and leather goods brands of LVMH, whose average sales declined by 1% in 2024. The results were also a far cry from those of Hermès, which achieved a 15% increase in 2024, reaching €15.1 billion in sales.

    The world’s second-largest luxury brand after Louis Vuitton – whose sales are estimated at nearly €24 billion in 2024 – Chanel has been hit by a slowdown in the two main engines of the global luxury market: China, where consumer spending has faltered since the start of 2024, and the United States. Chanel’s sales fell by 7.1% in the Asia-Pacific region and by 4.2% in the Americas, while they rose by 0.6% in Europe.

    You have 77.54% of this article left to read. The rest is for subscribers only.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Small Mistakes Add Up. 4 Mistakes to Avoid When Investing for Retirement.

    Investments

    Five tricks to stop your pension falling short: HALF of workers over 60 don’t have enough – here’s how YOU can catch up fast

    Investments

    Microsoft and Meta fuel $648 billion rally in AI stocks as investments pay off

    Investments

    Here’s a UK property investment that costs just £1 (and can be held inside a Stocks and Shares ISA)

    Investments

    Morgan Wallen walks out with Barry Bonds, Steve Young at Santa Clara concert

    Investments

    Tyson Fury claims he will NEVER return to boxing just weeks after reversing latest retirement

    Investments
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    19th China Commodities Fair held in Astana

    Stock Market

    Bourse de Milan stable, peu d’initiatives avant la BCE, repli des utilities

    Commodities

    Le Métal Pless à l’aise avec l’alignement actuel

    Editors Picks

    Les principales cryptomonnaies progressent : le Bitcoin maintient son cap au-dessus des 118 000 $

    July 11, 2025

    Land and Water Conservation Fund (U.S. National Park Service)

    July 10, 2024

    UK housing market in ‘delicate balance’ as average property price dips by £213 | Personal Finance | Finance

    March 7, 2025

    Acquise par AA Investments, Bonne Gueule sort du redressement judiciaire

    June 27, 2025
    What's Hot

    Lone Star Funds Acquires Class AA Fort Lauderdale Office Building

    February 14, 2025

    Zitro Implements Energy Efficiency Policy

    October 22, 2024

    Microfluidic sensors enable real-time detection of multiple heavy metals in water

    July 19, 2024
    Our Picks

    AIXA Miner Launch Sparks New Wave of Cryptocurrency Mining Innovation

    June 27, 2025

    How investment vehicles (ETPs) are redefining portfolio management

    August 27, 2024

    A Wake-Up Call for Indonesia’s Commodity Governance

    October 16, 2024
    Weekly Top

    Currency Dominance in the Digital Age

    August 3, 2025

    Five tricks to stop your pension falling short: HALF of workers over 60 don’t have enough – here’s how YOU can catch up fast

    August 3, 2025

    Microsoft and Meta fuel $648 billion rally in AI stocks as investments pay off

    August 3, 2025
    Editor's Pick

    La Davie tentera une percée au Texas

    June 11, 2025

    These Are The Last 2 Cheap Utility Dividends

    August 28, 2024

    US bonds: US bonds two-year yield falls below 10-year yield for the first time since July 2022

    August 5, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.