SPX3,845.08+13.69 0.36%
DIA310.41+0.70 0.23%
IXIC11,361.85+39.61 0.35%

Chanel Owners Pocket $5B Windfall On Post-Pandemic Boom: Bloomberg

Benzinga · 06/10/2022 07:30
  • French luxury fashion brand Chanel’s owners raked in a $5 billion windfall in 2021, Bloomberg reported.
  • Citing the U.K. filings, the report noted Wertheimer family, which owns the brand, got two $2.5 billion dividends in 2021 through their Cayman Islands-based holding company.
  • The surge in the global demand for Chanel’s products shot the owner’s fortunes to new highs.
  • Specifically, the report cited Bloomberg Billionaires Index that the Wertheimers’ net worth skyrocketed 37% in 2022 to $90 billion.
  • The company looks to invest $1 billion in 2022 and plans to hire more than 3,500 workers, the report added.
  • Photo Via Company