Chanel Financial News

In a cinematic homage blurring fashion and film, Chanel transported its audience at Paris Fashion Week to a fictional Deauville for its latest showcase

The price of a basic Hermès Birkin handbag has jumped $1,000. This first-world problem for fashionistas is a sign that luxury brands are playing harder to get with their most sought-after products. Hermès recently raised the cost of a basic Birkin 25-centimeter handbag in its U.S.

Please don’t dabble in doom spending. The term, which first bubbled up on social media, has gained steam following a recent survey by Intuit’s Credit Karma. Consider it 2024’s sequel to last year’s “girl math." If girl math was a light-hearted buddy comedy, doom spending is a horror film.

Chanel creative director Virginie Viard whipped extra airiness into the luxury label's spring/summer haute couture show, with thin veils and tufts of tulle that floated down a carpeted runway. The audience sat in a ring under a gigantic button — stamped with the label's logo. Moving down from the ceiling, it announced the start of the show, tilting toward the photographers podium. Leading the line-up, actor Margaret Qualley was all in white.

global CEO of luxury brand Chanel, has several significant firsts to her credit. At Unilever, Nair, 54, was the first woman to lead global human resources. And then, Chanel appointed her as its first global CEO of Indian origin. She was a fashion industry outsider when picked by the French fashion house to lead it in 2022. “I am humbled and delighted to receive this prestigious award. India has shaped my values; it is where I grew up, where I completed my education, and where I spent 40 years of my life, including two decades of my professional career,” she told ET after being chosen for the Global Indian Award. “This award is a recognition of Chanel, an iconic and admired luxury brand, and our teams across the world. We believe in the freedom of creation, encouraging human potential and acting to have a positive impact in the world.”

India Inc's brightest, heftiest and edgiest. Last week, they were seated at a long table in their avatars as jury members.

luxury brands are looking at India, says Benedicte Epinay, CEO of Comite Colbert, the official luxury association of France that represents 93 luxury brands and behemoths such as LVMH, Chanel and Kering. «Is India the next promising market? There are obstacles such as custom duties and the bureaucracy, but it probably is, because you have all the ingredients,» Epinay told ET. «You have the consumers, you have the appetite for refinement, you have the taste to understand luxury, and you have the passion to show off.» She was here for the first Indo-French luxury symposium, or 'IFCCI Luxury Symposium', held in New Delhi on Wednesday. «Post Covid, we are back to a new normal.

Bharat Tex exhibition in February aims to showcase the complete textile value chain, featuring participants ranging from farmers to fashion designers. The event, held at both Bharat Mandapam and the newly constructed Yashobhoomi in the capital, marks India's dedication to becoming a global textile powerhouse, combining innovation, collaboration, and the «Make in India» spirit. Timed strategically, the exhibition, covering an expansive two lakh square feet (equivalent to 45 football fields), is anticipated to coincide with the announcement of general elections. Textiles has been a major focus sector, given the large number of weavers, artisans and workers involved in the sector. Bharat Tex 2024 represents India's 5F vision, encompassing Farm to Fibre to Factory to Fashion to Foreign. It emphasizes the nation's readiness to take on global competition in the textile sector, creating products not only for India but the entire world. The four-day event is expected to attract global CEOs, policymakers, in addition to over 3,500 exhibitors from around the world, 3,000 overseas buyers from over 40 countries, and more than 40,000 domestic buyers, official sources told TOI. The textiles ministry, which is working with trade bodies, has reached out to global players such as Chanel, LVMH, Uniqlo, Zara and Walmart — which is hosting its first global sourcing meeting around the same time — to join the mega event where nearly 100 top Indian brands such as Fabindia, Nalli, Arvind Mills and Raymond will be showcased as the organisers work on the theme of «local for global». «Indian manufacturers cater to big brands, largely as vendors.

At Chanel’s Paris show models were inspired by the villa Noailles

Chanel designer Virginie Viard unveiled a breezy, warm-weather collection in Paris on a drizzly Tuesday, showcasing a colourful lineup of asymmetric styles, paraded by models in flip-flops and thick-framed glasses. The audience, including actress Penelope Cruz, singer Usher and Blackpink singer Jennie Kim, sat in box-like rooms with large windows looking out on life-size photographs of the scrub-filled hills of the French Riviera. The models cut through the centre of the sprawling space of the Grand Palais Ephemere exhibit hall in central Paris, parading tweed skirt sets with uneven hems, patchwork ensembles and lightweight dresses that trailed down in the back. Adding to the collection's nonchalant air, a swimsuit was worn with a cape, relaxed jeans were dressed up with a slender, rhinestone belt and a tweed jacket, and sleeves on dresses were sliced open to cover shoulders in a cape-like fashion. The show took place on the last day of Paris Fashion Week, which has drawn crowds of industry press and celebrities to the French capital, topping off a season of runway presentations that also took place in New York, London and Milan.

Luxury retailers are spending big on their U.S. real estate, more evidence of the staying power of in-person shopping. French jeweler Van Cleef & Arpels is opening a new Manhattan location on Madison Avenue.

A major new exhibition is opening at London’s V&A Museum to honor and celebrate the life and iconic designs, as well as many more lesser-known creations by famed French designer Gabrielle “Coco” Chanel

Liberalised Remittance Scheme, in case of amounts exceeding ₹7 lakh in a financial year from October 1, is likely to push the sale of luxury brands in India, experts said. Covid had helped boost demand for luxury brands in India as international travel restrictions shifted sales to domestic stores. That is now set to get another boost due to narrowing of the price gap between foreign and local markets after accounting for the 20% tax collected at source (TCS), mall owners said. «An Indian consumer earlier used to go abroad and shop in Dubai or London, but when the pandemic happened, many of those brands like Chanel or Hermes called their Indian consumers to do small events inside the store.

G7 summit in Japan. She made a stylish statement with a pink top and green trousers while accompanying her husband, Rishi Sunak.

In a landmark transaction for the Australian economy, one that points to the arrival of accessible agricultural payments technology, a NSW cattle auction was settled by two farmers using a digital version of the Australian dollar backed by the Reserve Bank.

Birkin Bags. Almost every celebrity seems to don one these days.  The bag that now remains an example of conspicuous consumption, is priced between $10,000 and  $250,000 for the more high-end designs.

Prime Minister Narendra Modi on Friday acknowledge... morePrime Minister Narendra Modi on Friday acknowledged the significant role played by business leaders in strengthening the partnership between India and France.

Their merits are many: Diamonds and gemstones have a high intrinsic value that, when added to watches, renders them automatically investment-worthy. And improvements in gem setting techniques have amped up the dazzle factor. Increasingly, there’s been a greater interest in jewelled watches for men—top brands like Bulgari are now introducing jewelled pieces designed for male consumers.

German President Frank-Walter Steinmeier was reelected on Sunday for a five-year term in a largely ceremonial post where he must embody a moral authority that cuts across party lines.

The leaders of six opposition parties in Turkey met Saturday to strategize about the future of the country's governing system — a move that aims to unseat the country's longtime ruler.