The Maison recorded a 4.3% drop in revenues.
After years of near-vertical growth and steadily rising prices, Chanel has been forced to undertake a strategic slowdown that directly targets its largest business line: leather goods.
Until now, the iconic House that had turned inflation into an elegant excuse to publicise the price of its iconic bags is softening its narrative of exclusivity at all costs. The new approach is committed to containing economic values, aligning them with global inflation and, more surprisingly, to a new aesthetic sensibility under the creative direction of Matthieu Blazy.
Leena Nair and Philippe Blondiaux of Chanel‘s management team say that, despite the downturn, financial health remains robust. While the watchmaking and fine jewellery lines continue to shine brightly, leather is slowing down, and with it the perception of automatic growth that seemed to have taken hold after the pandemic.
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