Chanel, symbol of the rebound in the luxury sector – archyde

Chanel presented its Cruise collection in Dubai on Tuesday, November 2. The haute couture house presented the half-season models imagined by its artistic director, Virginie Viard, at two successive events, by invitation. “ For the first time since the start of the pandemic, 800 people were able to attend this presentation ”, explains Bruno Pavlovsky, president of the fashion activities of Chanel and Chanel SAS.

One month after the fashion show for the spring-summer 2022 collection held in Paris, in the ephemeral Grand Palais in Champ-de-Mars, Tuesday, October 5, during the Fashion Week, the haute couture brand has chosen the city of the united arab emirates, whose world exhibition is expected to attract 25 million people by March 31, 2022. By design. The Middle East represents a “ key market for Chanel “, underlines the leader.

Dubai, whose real estate boom is driven by cosmopolitan billionaires, is a “ platform “ that attracts all types of customers “From Russia, Turkey and Lebanon “. To this day, observes Mr. Pavlosky, “ Dubai is one of the only places in the world where a parade of this type can be organized in complete freedom. “, considering “ its good management of the pandemic “ and the opening of its borders to tourists.

Most signals are now green

Chanel’s Cruise models will soon be on sale in the brand’s 200 stores around the world. On December 6, another parade, another place: in Aubervilliers (Seine-Saint-Denis), in its new 19M building designed by Rudy Riciotti, which brings together several of its workshops and factories, will be presented the Métiers d’art collection, in which M^me Viard highlights the know-how of the Chanel craftsmen, the Maison Michel hatter, the Lesage embroiderer and other plumassiers, glove makers and pleaters. Several hundred guests are expected.

In 2020, the company had suffered a fall in activity of 18%, to 10.1 billion dollars (8.3 billion euros)

Should we see the return to normalcy of the luxury sector, after the crisis opened in early 2020 by the eruption of the health crisis? Most signals are now green. Although the brand owned by the brothers Alain and Gérard Wertheimer is keeping its financial results secret during the year, the president of Chanel specifies that those for 2021 will be “ exceptional “. In 2020, the company had suffered a fall in activity of 18%, to 10.1 billion dollars (8.3 billion euros). This year its “ double-digit growth », Notes Bruno Pavlovsky. Because, despite the absence of Asian tourists in Europe, the local clientele is back in all the countries where it is established. On June 15, Philippe Blondiaux, financial director of the group, warned, in an interview with Financial Times, than “Chanel sales should be 35% higher than in 2020”.

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