Chanel reveals financial results for the first time in 108 years.

Chanel chose to reveal financial results for the first time in over a century to make the company’s position in the fashion industry known. In an effort to undermine any acquisition, IPO or M&A rumors, Chanel reported revenue of $9.62 billion for 2017, an 11% increase YOY. An article originally published in the NYTimes and republished on the Business of Fashion website (where I found it) cited some interesting commentary from the CFO:

The move to publish was “absolutely not” a precursor to a stock market listing, Chief Financial Officer Philippe Blondiaux told Reuters. He also ruled out a sale.

“It’s exactly the opposite — this financial statement shows that we are amazingly solid financially and we can keep our status as a private, independent company for the next few centuries,” Blondiaux said in an interview.

“Instead of having others report, we’ve decided to put the facts on the table about who we are,” he added, saying the brand, which has long leaned on octogenarian designer Karl Lagerfeld for its womenswear styles, had previously preferred to let its creative officials speak instead.

I don’t know that I have heard of an executive so publicly claiming the intention to remain private and independent for the “next few centuries.” Mic successfully dropped.

Chanel fashion economics
Source: Sarah White and Pascale Denis | "Chanel Reveals $10 Billion Revenue for First Time" | Business of Fashion | 06/22/2018 | Visit