Chanel Confirms For The Hundredth Time It Is Not For Sale — & Business Is Good

Chanel is well aware that they are the most desirable luxury brand in the world. Last summer, the brand released its yearly earnings for the first time in the French fashion house’s 108-year history. The big reveal? They\'re rich which explains how the late Karl Lagerfeld was able to pull off such grand fashion shows each season.On Monday, Chanel\'s global chief financial officer Philippe Blondiaux reiterated to Business of Fashion that business is good. “Chanel is not for sale, Chanel is not preparing for an IPO, I just want to reconfirm that for the hundredth time this year,” he said. “The numbers we’ve shared show that our strategy is exactly the opposite of a company preparing for a sale or an IPO. We’ve increased our level of investments... to prepare for the long term,” he explained. Further, he tells BoF, “We’ve increased our headcount ahead of the curve at the risk of slightly eroding our short-term margins, which we don’t care so much about, to prepare for th