Industry Report Of
The Brands Introduction ➢ Chanel S.A. is a French privately held company owned by Alain Wertheimer and Gérard Wertheimer, grandsons of Pierre Wertheimer, who was an early business partner of the couturière Gabrielle Bonheur Chanel ➢ Chanel S.A. is a high fashion house that specializes only in women's haute couture and ready-to-wear clothes, luxury goods, and fashion accessories ➢ The Chanel product brands have been personified by fashion models and actresses, including Inès de La Fressange, Catherine Deneuve, Carole Bouquet, Vanessa Paradis, Nicole Kidman, Anna Mouglalis, Audrey Tautou, Keira Knightley, Kristen Stewart and Marilyn Monroe ➢ Coco Chanel expanded perfume sales beyond France and Europe and developed other perfumes — for which she required investment capital, business acumen, and access to the North American market ➢ The business deal established the Parfums Chanel company, a parfumerie of which Wertheimer owned 70 per cent, Bader owned 20 per cent, and Chanel owned 10 per cent; commercial success of the joint enterprise was assured by the Chanel name, and by the cachet of la "Maison Chanel", which remained the sole business province of Coco Chanel ➢ In July 2002, a jewelry and watch outlet opened on Madison Avenue. Within months, a 1,000-square-foot (90 m2) shoe/handbag boutique opened next door. Chanel continued to expand in the United States and by December 2002, operated 25 U.S. boutiques ➢ Chanel introduced Coco Mademoiselle and an "In-Between Wear" in 2003, targeting younger women, opened a second shop on Rue Cambon, opened a 2,400 square feet (220 m2) boutique in Hong Kong and paid nearly $50 million USD for a building in Ginza, Tokyo ➢ In 2007, Maureen Chiquet was appointed CEO.
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