Chanel rules out sale or IPO (translated)
22 JUN 2018
The privately-owned French luxury goods brand Chanel has ruled out a potential sale of the business or even an IPO, French daily Le Figaro reported, citing CFO Philippe Blondiaux.
Chanel, which releases its annual results for the first time ever, reported profits of EUR 1.5bn on revenues of EUR 8.6bn in 2017, with an operating margin of 28%.
Chanel, founded in 1910, is owned by the Wertheimer brothers, the report went on to say.
This development was also reported in the daily L’Agefi. Asked if the first ever results publication was a prelude to a potential IPO or sale, Blondiaux replied that on the contrary, figures showed that Chanel had the financial means to remain independent and privately-owned for the next 100 years to come.
The original article from Le Figaro appeared in print, page 19.
The original article from L’Agefi appeared in print, page 7
The original article from L’Agefi appeared in print, page 7