Chanel Announces 2023 Revenue Increase to $19.7 Billion

Yesterday, it was reported Chanel’s revenue and profit increased by double digits last year as the storied French fashion house benefited from higher prices and strong demand for its ready-to-wear and accessories.

Virginie Viard has been the creative force behind Chanel since 2019, following the passing of the late Karl Lagerfeld. To state theFashionSpot’s forum members have encountered a love/hate relationship with the French designer, who began her career at Chanel as an intern for haute couture embroidery in 1985 would be an understatement. Viard’s most recent collection for Cruise 2025 was staged in the port city of Marsielle in Southern France, with forum member Frederic01 commenting: “This is shockingly bad. Even by Virginie Viard’s standards. Emperor’s new clothes though, this will sell like hotcakes!”. Chanel product was indeed selling like hotcakes throughout 2023, with revenue increasing 16% to a staggering $19.7 billion. Evidently someone is doing something right.

Revisit the Cruise 2025 Chanel collection below:

Read below the reactions of theFashionSpot’s forum members:

“Their brand is too strong. 16% increase in sales. Virginie Viard is never leaving.” [plentyofthorns]

“I AM LIVING FOR THAT SALES INCREASE. It made laugh so hard at the gym. This is the product that all these morons who are buying Chanel deserve.” [helmutnotdead]

“These clients are lemmings, every one of them…” [StylishCynic]

“I mean, Chanel is more than Virginie’s collections. And even if I’m not a fan of her clothes and accessories, their beauty and jewelry entities are still consistent.” [Lola701]

“Wow +16% in 2023 is CRAZY. And double digit growth in RTW? What are Chanel clients smoking?” [Creative]

Share your own thoughts on Chanel’s impressive revenue increase over on theFashionSpot forums, here.