Chanel Hits $10B, Tops List of Influential Luxury Brands on Social Media

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Chanel, the 108-year-old French fashion house, announced this year that it is now a $10 billion company. This is the first time the privately owned luxury brand has released its yearly earnings.

“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,” said Chief Financial Officer Philippe Blondiaux.

Chanel has “famously abstained from fully entering the world of e-commerce, only selling limited ranges of eyewear and beauty products online,” reports Econsultancy. “But while the brand is clearly mindful of protecting the exclusive nature of its products, it has been less cautious when it comes to digital and social media marketing, creating a heavy presence across most channels.”

Last year, Chanel was named the most influential luxury brand on social media, with a total of 40.8 million followers on Twitter and Instagram alone.

While protecting its air of exclusivity, Chanel has some high-profile brand ambassadors, including Penélope Cruz, Keira Knightly and Kristen Stewart. Cruz wore a dress from the brand’s haute couture collection to the 70th Emmy Awards.

The brand has just released its new 2018/19 eyewear collection. The ad campaign for the line by Karl Lagerfeld features model Luna Bijl.

Chanel will celebrate its 17th Métiers d’Art show at the MET museum in New York on December 4.

“Karl Lagerfeld is very attached to the American mega-city whose energy and light he has always loved to capture,” said the brand. Chanel has shown twice before in the Big Apple: its Métiers d’Art 2005 show at its own 57th Street boutique and its 2006 cruise show inside Grand Central Terminal.

The Paris-Hamburg 2017/18 Métiers d’art show was presented at the Elbphilharmonie in Hamburg last December, composed of year’s 89-piece Métiers d’Art collection debuted at the new Elbphilharmonie concert hall in Hamburg—Lagerfeld’s hometown—to its largest-ever audience of 1,420 guests, including celebrities Tilda Swinton and Kristen Stewart.

Preserving the iconoclastic tradition of the brand, Coco Chanel’s legacy, Chanel continues to challenge the status quo and recently launched a makeup line for men, “Boy De Chanel,” set for initial release in South Korea,

“By wearing Boy de Chanel makeup,” explained the brand, “men can feel self-assured and determined, confident about themselves and their appearance.”

Korean actor and model Lee Dong Wook is the face of Boy de Chanel. His work includes “My Girl,” “Scent of a Woman” and “Guardian: The Lonely and Great God.”

Chanel’s latest high jewelry collection is inspired by Coco Chanel’s Coromandel screens that captured an Eastern mystique. The screens adorned Coco Chanel’s homes in Paris and Lausanne, and the new jewelry collection offers 59 pieces that mirror scenes from the lacquer screens of flowers, animals and minerals evocative of Eastern exoticism.

As technology increasingly influences on the beauty industry, Chanel has launched the first-to-market mascara featuring 3D printing: Le Volume Révolution—the first mascara with a 3D printed brush.

This spring Chanel Beauty released three marine fragrances, Les Eaux De Chanel collection, inspired by three cities that Gabrielle Chanel frequented: Paris-Deauville, Paris-Biarritz and Paris-Venise.

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