Chanel rebounds in 2025: new era begins with revenues of 19 billion (+2%)

After years of double-digit growth in revenues and profits, in 2024 for the maison Chanel - which contends with Louis Vuitton for the title of the world's largest luxury brand - sales dropped by 4.3% to USD 18.7 billion (official note of 20 May 2025). This trend, however, spread to the entire fashion and high-end industry: the two French giants Lvmh and Kering closed last year with revenues down 1% and 10% respectively. On the other hand, there was an initial rebound for Chanel in 2025: the numbers released yesterday show a 2% growth in sales to $19.3 billion (about 17 billion in euro). Profitability ratios were good, despite the overall picture: in 2025 the only exceptions to the slowdown were Hermès and, in Italia, Brunello Cucinelli and the Prada group. Chanel's operating profit grew 5.2% to USD 4.712 billion on cash flow of USD 2.646 billion (+44% over 2024), while net profit fell 14.3% to USD 2.9 billion. As always, investment indicators were high: Capex 2025 of 1.449 billion, alongside 2.395 billion allocated to brand promotion activities and events designed for customers, in shops and around the world.

The best, almost certainly, is yet to come, although both the global chief executive officer, Leena Nair, and the president of the fashion part of the maison, Bruno Pavlovsky, are fencing themselves off from scaramantic cultures. Indeed, 2026 will be the year when sales will be affected by the success of the maison's creative turnaround. Turnabout is actually not the right word (see also the article on the jewellery part that appeared yesterday in Il Sole 24 Ore): it is more correct to speak of intelligent and well-prepared evolution, insofar as in fashion one can plan or predict the success of a creative project.

In December 2024, Chanel announced the arrival of Matthieu Blazy from Bottega Veneta, where the designer had worked small miracles, giving Kering the only really positive figures, in the face of the difficulties of Gucci but also Saint Laurent and Balenciaga. Chanel and its new creative director - bolstered by economic solidity and the image of a brand almost out of time and space - did not want to rush: the first real collection signed Matthieu Blazy was the one presented in New York last December, the most artisanal of all (Metiers d'art) and the one most complex to bring, in sufficient quantities, to the many Chanel shops around the world. It will arrive in the boutiques on 5 June and many are expecting the long queues that were seen in March for the shop debut of a "taste" of the clothing, handbags and accessories collection that was "technically" the autumn-winter 2026-2027 collection, which sold out in a few hours. The enthusiasm of the end customers - despite the umpteenth price increase, the opposite of what happened at Gucci, where CEO Luca De Meo lowered them - galvanises outside and inside the company. Because while it is true that fewer and fewer people will be able to afford to shop at Chanel on a regular basis, it is equally true that in the age of social media, with fashion shows and events streamed in real time and Instagram accounts updated in a captivating and engaging way (we are not talking about influencers, but official content), anyone who loves fashion as a mirror of society and culture and as a deeply human creative expression can feel part of the new course set by Matthieu Blazy. As we were saying: very solid ideas and foundations, with a long-term vision, confirms cfo Philippe Blondiaux: 'By 2025, we have invested 700 million in participations in SMEs that are our long-term partners'. As if to say: creativity only germinates and grows in soil irrigated by craftsmanship, manufacturing skills and respect for DNA. Gabrielle Chanel died in 1971, but her spirit continues to watch over the brand, because no one has ever stopped respecting and remembering her for the place she had in the history of fashion. A lesson for all.

On the first (almost) five months of 2026, the Maison reports that indicators remain solid, "reflecting the positive momentum gained during 2025 and continued into 2026, which reflects our long-term investment approach that fuels creativity across the Maison. As always, we take into account the broader macroeconomic and geopolitical environment as we deal with market fluctuations, but we are on track and remain cautiously optimistic. As for the possibility of the introduction of a men's line, the house explains: 'We are proud to collaborate with male ambassadors throughout the house and inspiration from the male wardrobe has always been an integral part of Chanel's DNA, but a men's line is not currently in the pipeline. As for other projects related to craftsmanship, Paris emphasises: 'After a busy 2025, we have many other initiatives planned for 2026, including, in September, the presentation by le19M (the complex in Paris that houses hundreds of craft trades linked to Chanel, ed.) of a cultural programme at the Pudong Art Museum in Shanghai, dedicated to the values of Métiers d'art: passion, transmission and innovation. And let's not forget that by 2025, we have invested a record $724 million in production and craft trades, including leather goods'.

The performance of the fragrance and beauty sector was driven in 2025 by perfumes and skin care products. The growth of the fragrance part was supported by the success of Chance Eau Splendide, with a campaign featuring ambassadress Angèle. Created by Olivier Polge, Chanel's in-house perfumer-creator, the house's first new women's fragrance in eight years was launched through immersive events around the world, including a playful pop-up store on Chance Street in Shoreditch, London. New lines were also launched, including Bleu de Chanel L'Exclusif, the ultimate expression of Bleu de Chanel (for which Jacob Elordi, a candidate to be the next James Bond, became testimonial). Other notable launches include the new LES 4 OMBRES BOUTONS and SUBLIMAGE L'Extrait Huile Lèvres. Chanel also opened more than 25 new perfume and beauty boutiques, launched a new ad-hoc app and launched e-commerce in Mexico and Argentina.