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Chanel boss seeks to put IPO rumours ‘to rest’

Chief executive Leena Nair insists that French luxury group will remain ‘a private, independent company’

Chanel has ruled out an initial public offering, insisting that it can hold on to its privately owned status and remain the world’s second-biggest luxury brand.

“We’re going to stay a private, independent company,” Leena Nair, the French company’s global chief executive, said. “Rumours always float around, but you can put those to rest.”

Wearing head-to-toe Chanel and speaking in her office overlooking New Bond Street in London where the company decided to move its headquarters in 2018, Nair told the Financial Times that she remained “cautiously optimistic” about the luxury goods market.

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