Chanel plans to increase investment in its retail network and real estate by at least 50 per cent this year, as the French design house competes with other luxury groups in a hot market for prime locations.
The company, which is owned by the billionaire Wertheimer family and headquartered in London, also plans to continue to make acquisitions to further integrate its supply chain after a dozen such deals last year, according to its top executives.
“We are seizing opportunities in real estate which the current environment is offering. So we will be on the offensive,” Chanel’s global chief financial officer Philippe Blondiaux told the Financial Times.
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