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

by Shivani Kumaresan, Benzinga Staff Writer

June 10, 2022 7:30 AM | 1 min read | Make a Comment

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.
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