Chanel’s Rise & STALL: Defects, Difficulties & Deflection (formerly the 19 tote saga thread)

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#648
ntntgo said:
The issue I have with that .pdf is that it’s not an actual annual report which is required. I own a much smaller company and even I have to register an annual report.

More importantly is the reference to their “financial statement” in the fine print at the bottom. Where is that financial statement? I’d love to see it if anyone can find it as it would be included in their annual report, if they actually put one out as they are required to.

Somewhere back in this thread, someone mentioned them being fined for not doing so. It wasn’t me but I can tell you as someone who has owned 3 companies, one quite large that was sold off, I was fined one year for not uploading my annual report. So I don’t doubt it. I even searched for it under Mousse Partners, the holding company that Chanel falls under and according to the SEC, they haven’t even filed them. To be clear, Mousse Partners Ltd is registered with the SEC. They run on a fiscal year, not calendar and it ends on Dec 12th. According to the SEC, they’ve filed no papers since they made the change to Litor Ltd as being the DBA as Mousse. I suspect they did that as they incorporated in the Caymans but, as they are registered with the SEC, they are still required to file an annual report.
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I thought Chanel is not publicly traded, so financial statement would be difficult to find no?
 
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#650
Swanky said:
As are a lot of the posts in this thread. We hear what we want to, connect to the info that resonates with us.
I take what I read online with a grain of salt, just like I do with marketing.
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Yes you are so right, we do hear what we want to hear. I think many of the posts here have been substantiated, but of course everyone should take what they want from it. Most advertising is not all that honest and lets face it, brands hire agencies that design it to sell to us, they sell us stories. It's quite fascinating really, how we can be swayed by something intangible that makes us feel a certain way and that something makes us buy.

Most of us are not familiar with the loopholes in truth in advertising with products. That you can call something natural or organic even if its not really, or something can be called leather, even if its only partly leather. We know made in Italy means it was finished being assembled there, but parts came from and made elsewhere. It goes way beyond this Fashion House but they certainly are fully in it.
 
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#651
gail13 said:
Yes you are so right, we do hear what we want to hear. I think many of the posts here have been substantiated, but of course everyone should take what they want from it. Most advertising is not all that honest and lets face it, brands hire agencies that design it to sell to us, they sell us stories. It's quite fascinating really, how we can be swayed by something intangible that makes us feel a certain way and that something makes us buy.

Most of us are not familiar with the loopholes in truth in advertising with products. That you can call something natural or organic even if its not really, or something can be called leather, even if its only partly leather. We know made in Italy means it was finished being assembled there, but parts came from and made elsewhere. It goes way beyond this Fashion House but they certainly are fully in it.
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And the perfect client neither wants or cares to know, and doesn’t ask too many questions ;)

I am the perfect client for the peanut butter moo’d at Jamba Juice. It has an ungodly amount of calories and no telling how much sugar and hydrolyzed blah blah blah. But I have it nearly every day. And don’t want to know specifics cuz that would ruin my fun. Same dance with bacon. Overt ingestion of knowledge makes something actionable, I rather enjoy my inertia on guilty pleasures. I’d imagine Chanel might be the same blind romance.
 
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#652
TraceySH said:
And the perfect client neither wants or cares to know, and doesn’t ask too many questions ;)

I am the perfect client for the peanut butter moo’d at Jamba Juice. It has an ungodly amount of calories and no telling how much sugar and hydrolyzed blah blah blah. But I have it nearly every day. And don’t want to know specifics cuz that would ruin my fun. Same dance with bacon. Overt ingestion of knowledge makes something actionable, I rather enjoy my inertia on guilty pleasures. I’d imagine Chanel might be the same blind romance.
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Yes its the bad boyfriend we love and can't dump even tho we know its totally dysfunctional.
 
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#653
TraceySH said:
And the perfect client neither wants or cares to know, and doesn’t ask too many questions ;)

I am the perfect client for the peanut butter moo’d at Jamba Juice. It has an ungodly amount of calories and no telling how much sugar and hydrolyzed blah blah blah. But I have it nearly every day. And don’t want to know specifics cuz that would ruin my fun. Same dance with bacon. Overt ingestion of knowledge makes something actionable, I rather enjoy my inertia on guilty pleasures. I’d imagine Chanel might be the same blind romance.
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I like to think many of us are educated and want to learn, we DO ask about the creative processs/design and thought behind the collections, and the materials used. After all, this is what is supposed to differentiate the premiere brand from the contemporary? If we can't rely on the best designs and materials, what is left? If Chanel is not going to disclose the process or materials, what are we left with?
 
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#654
zaraha said:
I thought Chanel is not publicly traded, so financial statement would be difficult to find no?
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If a company has filed with the SEC, they are required to put out an annual report.

i can’t speak for other states but all 3 of my companies, even the small one, has to file an annual report with the state or you lose your FEIN number & the company shows as inactive.
 
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#656
Liberté said:
Financial reports for Chanel limited in the UK can be found here. Annural report and financial statement for 2021 is available here. It's a scanned document and so not easily searchable... Kind of surprising.
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The first link are just the reup of the articles of incorporation. The 2nd link goes nowhere. But thanks for trying.
This is Hermes 2021 (as I know there will be naysayers comparing any other private company in the world to almighty Chanel). This is what an annual report looks like and the information that it is legally required to contain. Of course Hermes fluffed it up, which is fine because it contains the legally required financial statement. Hopefully, if anyone cares to look, the comparison is glaring between Chanel’s one page document that looks like it was created by my 15 year old niece trying to get by on an economics assignment & an actual annual report.


All I’m saying is that it’s a little suspect that a company the size of Chanel Ltd that is owned by a holding company doesn‘t put out a legally required annual report.

Before someone comes back stating well, Chanel is privately owned or they aren’t required to put out an annual report, please please don’t look at the world of Chanel through tweed colored glasses. They are not a fashion house. They are a singular company within a portfolio that owns over 60 companies. Unless you have a subscription to Crunchbase or if you want fashion specific, Fashionbi, you can’t even see their most basic annual report. So even if I link it here, unless you have a paid subscription, you can’t see it.
2018 was the last time Chanel put out an annual report.

The Hermes report is made public as a point of reference.
 
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#657
ntntgo said:
The first link are just the reup of the articles of incorporation. The 2nd link goes nowhere. But thanks for trying.
This is Hermes 2021 (as I know there will be naysayers comparing any other private company in the world to almighty Chanel). This is what an annual report looks like and the information that it is legally required to contain. Of course Hermes fluffed it up, which is fine because it contains the legally required financial statement. Hopefully, if anyone cares to look, the comparison is glaring between Chanel’s one page document that looks like it was created by my 15 year old niece trying to get by on an economics assignment & an actual annual report.


All I’m saying is that it’s a little suspect that a company the size of Chanel Ltd that is owned by a holding company doesn‘t put out a legally required annual report.

Before someone comes back stating well, Chanel is privately owned or they aren’t required to put out an annual report, please please don’t look at the world of Chanel through tweed colored glasses. They are not a fashion house. They are a singular company within a portfolio that owns over 60 companies. Unless you have a subscription to Crunchbase or if you want fashion specific, Fashionbi, you can’t even see their most basic annual report. So even if I link it here, unless you have a paid subscription, you can’t see it.
2018 was the last time Chanel put out an annual report.

The Hermes report is made public as a point of reference.
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Thanks for sharing the information which led me to use capitalIQ and factiva to do some research on this company.

I went to capitalIQ and Factiva and check on Chanel..... TRULY SHOCKING!!
omg i always thought Chanel (or other luxury fashion brands) is just a fashion house that focuses on outsourcing, marketing, and distributing products through their various channels. I'm so wrong and probably blinded by it.

what i understood is that there are more than 60 companies based on Factiva.. in addition, there are quite a few M&A activities going on in some of the subsidiaries according to capital IQ.. truly a Venture Capitalist firm hahahaha.

also, i managed to extract the financial statements (up till FY21) in Chanel UK (a subsidiary) for everyone's reference!! misinformation -> refer to the uploaded photocopied annual report audited by one of big 4s instead :smile: the photocopied annual report is Chanel Limited (which consolidated all subsidiaries' financial information, in this case, Chanel Limited is the parent company, and Lidor is the ultimate parent company.)

edit: very smart of Litor Limited for setting up in Cayman Islands... no one knows (or at least in the Internet space) how much revenue or profits they are earning
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#660
JamaisAssez said:
Thank you so much for sharing @rainbowneko!

A 2021 revenue of 42998 (000€), that doesn’t seem a lot, no? (43 million euros, that’s it?)

Forgive me, I’m not well versed in financial statement literacy.
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Hi Jamais!

Yeah, i compared the capitalIQ statement against the financial statement uploaded by chanel. Since the financial statement was audited by one of the big 4s, just take the capitalIQ a pinch of salt (i will remove it shortly cause i think it caused some misinformation!). The 43 million euros is the revenue of Chanel UK (assuming revenue from UK stores) in FY21 (sorry for the confusion because too many chanel subsidiaries slightly confusing!!)

here's the link provided by @Liberté https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/L8aPwWhNSTnqPXB-kJSr5e7hDGyPCJhgEhu1UlUyLuA/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3FTZ2YMQ5/20220813/eu-west-2/s3/aws4_request&X-Amz-Date=20220813T150559Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjECQaCWV1LXdlc3QtMiJHMEUCIG/YDSgTu9D9hF0+TyIOvIYooyHpzwmvnBwfg/lPJ3GTAiEAwKEP+LAQ+RZD5tWkoK2vQ2on46FQUxMjah7rLoKpM/8q3AQIjP//////////ARAEGgw0NDkyMjkwMzI4MjIiDJ/7W9hdrYO3xpz7CSqwBEb7Hy1p7C9NcQKihNKJJ+XGE8K6oPV98XqjKtxEZ3S+9yuPeaGCbnNPx4LkLtPykiiAh0fN+dDF7oJRhgOU1RjDitz1TBSigwQONJvYmvMrqaZdYQ5rdTT6oJ+SiddDnlqoHkd/FZSGVjOKfkI0diN0oGmakMtdjptTnl24hnq5D9qahbFICyvPBya4mASyHDwT0rhtjynDDwQMOTocaSY1uiTzX7ueX0LECIEXd+mmZgvFPFbkqZ0lU0OkZ8HGIdqaZJ7veM5uepBD+TFMZ6sEs9hFPT6DVqSkepBXvKinqDmZa36dPbk2NCQWciTbCBsF7cZvFoirGIxukj/Z0D3+3tAq+/+m24GlTJBc8M7rN0Gmw2q/6EV14DZAZYY0oKNmEkFEh23fW2ejp2Va+yLl6aY/HOJcLOB2fcrzsFaW9agSLWAZMlSExOwjVtrRR+fwpG1M9aC1Xm8Ab0utHTtPNpiLOXN/zDENgSgHlqCfBznn6K3nBEDPjKKIgQGm7Ft56Bb3tvEkt/4yP+Lh7DrsCekH+hhdgokUMjajp0CEMypqd62w0MpWRtQOJbYXZCb2cGKNqgMldCVhgW8UUUNPRAuInLlsys63v8QP1ZnQNFhepj/+l2O/4D4ssqqNHJzuDN+f7BlZTdSo1SedCKP7vI6Oe4GguAafVEr25KaVr77bV3JdBfffxTEtNjv1vGwrmAAPLdVWTUIAO3l1xRHqmMtOhk8VBZfUhmHcNto2MMKR3pcGOqkB3wgxVKbJJjXqjRZiKlpnXs+Xvfv67yvKeQqooh48TdQs+d0FCcAQeZRA2/2M70m4/P/UE0n2HY9DxVvvh5IKzVzEbZ4fyoLhOztsEKJej4DziRkQ4gBX9DQ9FQoLBIoyTOuDqYG4u0Ayk75VHJhZ6ScOF0Z0L8UCEoJZX+2OKeGZsz8vPpMcFI6G09g7a2wYR9/qH+k9wsylIU1nGEpNUmWdf+ewptchwg==&X-Amz-SignedHeaders=host&response-content-disposition=inline;filename="companies_house_document.pdf"&X-Amz-Signature=575850bfd2711e7c9286e8a66266cb60f3fc20f42b67796f37ba1864d0131001

Consolidated financial statements refer to all the revenue and expenses added across all the subsidiaries. Since the financial statements denoted in million of US dollars soooooooooooooooo from what i observed..... i can say that the revenue for 2021 was 15b USD (i think its more accurate than the capitalIQ). In addition, how did i derive 15b USD? because refer to the second screenshot, their total intangible assets was 500usd (so in terms of millions, it should be 500 million usd, correct me if i'm wrong!).
Hence, operating profits for the FY2021 was 4b USD i think sort of makes sense also.

Referring to the last few pages you will note that there is a massive list of subsidiaries and most of them are wholly owned by Chanel..
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