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Chanel is preparing to suffer the hard blow of the Covid-19 in 2020 after growing 13% in 2019. However, the French luxury company, in the hands of the Wertheimer brothers, continues to buy suppliers.
Last year was a great year for Chanel. It ended 2019 with a revenue of 12.27 billion euros, which translates into a growth of 13%. Clothing sales were the cause of this great figure, as they increased by 28%.
Now, to everyone’s surprise, Chanel has decided to acquire the Italian company Gaiera Giovanni. This last purchase is added to the long list of suppliers bought by Chanel in the last years, like the Italian leather manufacturers Renato Corti and Mabi, the French manufacturer Grandis, Samanta, specialized in tannery; the Spanish Colomer Leather Group, also specialized in leather or Orlebar Brown, of swimwear.
In spite of continuing to buy suppliers, Chanel has decided to raise the prices of its most demanded articles. We will see how it evolves.