Chanel nears $20 billion sales, bolstered by make-up

By Sarah Parsons | Published: 22-May-2024

The French luxury fashion house reported strong 2023 revenues across all divisions

Chanel reported nearly US$20bn in sales in 2023, driven by strong growth across all product lines. 

The French luxury fashion and beauty house announced on Tuesday that last year's $19.7bn revenues were up by 16% compared with 2022. 

Chanel accredited the increase to "double-digit sales growth across each division". 

The maker of No. 5 perfume did not specify individual department results, including cosmetics. 

However, it highlighted that its Fragrance & Beauty division "experienced very strong growth across all categories". 

Make-up was noted for a successful 2023 thanks to a return of travel retail consumption and growth in local markets. 

Key marketing campaigns were highlighted, such as Whitney Peak taking over from Kiera Knightly as the face of Coco Mademoiselle and the appointment of Timothée Chalamet as the ambassador for Bleu De Chanel. 

Last year also saw the launch of 31 Le Rouge lipstick. Housed in a refillable glass case, the product is a key innovation for Chanel as it aimed to create the "ultimate timeless accessory". 

Chanel's CEO Leena Nair, said: "The strong results we are announcing today [21 May] reflect Chanel’s relentless focus on exceptional creations that inspire. 

"They underline sustained investment in building the desirability of our brand, creating the ultimate luxury experience for our clients and supporting our people to grow and develop."


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