Chanel gained 17% in revenues in 2022, reaching $17.2 billion; operating profits rose 5.8% to $5.78 billion, the company reported. 

 

Double-digit growth was reported across all product lines, attributing its success to nurturing local clienteles during the Covid-19 restrictions.

 

In Asia Pacific, the company gained 14.3% to $8.65 billion on a comparable basis. Revenues climbed 29.6% in Europe to $4.72 billion and 9.5% in the Americas to $3.86 billion.

 

Investments in brand-support activities increased 14.3% last year to $2.05 billion.

 

Capital expenditures for 2022 were roughly $668 million, representing 3.9% of sales; the majority was allotted to the global retail network. Chanel’s expansion of its network of standalone fragrance and beauty boutiques was a top priority.

 

The company said fragrance and beauty benefited from the steady return of travel retail and continued demand from local clientele. 

 

Important launches in fragrance last year include the eco range No. 1 de Chanel, and the Les 4 Ombres Tweed in cosmetics makeup.

 

The company also announced it will expand its London-based global headquarters and transfer its teams to 38 Berkeley Square – a move anticipated for completion by the end of 2025. Chanel moved its global headquarters to London from New York City in 2018. Chanel plans to hire about 5,000 more employees worldwide this year.