How is Chanel making money right now?

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  1. Since most of Chanel's goods are only available in-store, are they just taking a massive beating this month? If this situation persists, do you think they will open up online sales? Just curious :smile:
     
    BonVoyageBaby and fdc like this.
  2. My gfs and I were just discussing this the other day! Will be interesting to see if this global event will their business mode at all in the near future. Given Hermes allows clients to buy certain goods online...was thinking Chanel should consider listing SLGs, shoes, and maybe seasonal/trendy bags online but maintain their Classics for in-store purchase only. I get that buying online may affect the “allure” and lessen overall shopping experience but this must surely be impacting their sales more than ever?
     
  3. global event will impact their business model** sorry for the typo!
     
  4. They aren't. Hermes isn't either. Even tho there are a few things online, those won't ship out until the lockdowns are lifted. Entire production for LV, Chanel, Hermes, etc is completely shut down in France, Spain, Italy which means fall lineup isn't even being produced, and summer hasn't even all shipped out yet, if any. Most are giving their employees 2 weeks pay, but I don't think that is sustainable for much longer. I do know sales are still going in many places in Asia that never shut down/ or have reopened but with production down inventory will become scarce. But biz in Asia has been declining lately so not sure how those markets will respond. Might change entire luxury facade permanently if this goes on too long. Lots of good discussion and articles on WWD and BoF sites if you're interested in perusing!
     
  5. Thanks!! Found this interesting: https://www.vogue.com/article/italy-factory-shutdown-carlo-capasa-interview
     
  6. WillstarveforLV and _nycluxury like this.
  7. Haha totally! Love the intersection of business and fashion...and meeting like minded individuals! :heart:
     
    shopmycloset_lk and TraceySH like this.
  8. Retail is a bellwether for EVERYTHING!!
     
  9. Chanel gave 3months off to staff not 2 weeks in the UK at least
     
  10. Wow, excellent question!
     
  11. You mean their staff is on paid leave for 3 months? If so, that's very nice of Chanel.
     
  12. Bet they are cash rich, they can weather through this.
     
  13. What do you think will they have price increases like before
     
  14. Right...considering their profit figures in the last few years!
     
  15. Meanwhile Neiman Marcus basically bankrupt...interesting times ahead for sure :hrmm: