Chanel confirms it’s very rich, bitch

The Parisian house has released its financial results for the first time in over 100 years

We know what you might be thinking, ‘Chanel is rich, we been knew’. Sure, the company – that was founded over 100 years ago – was always known for being one of the most financially successful luxury fashion houses, but historically it has chosen never release its official financial results. Until now. 

Unsurprisingly, the Parisian label is doing very, very well, with its annual revenue up 11 per cent from last year and now sitting at $9.6 billion. Impressive. And even more so when you consider Chanel is outselling competitors including Gucci and Saint Laurent, and in fact the entire Kering group. So there’s that too. “Instead of having others report, we've decided to put the facts on the table about who we are,” the label’s chief financial officer said of the decision to release the brand's figures. 

With the company basically raking it in, the creative opportunities for Karl Lagerfeld are almost endless. The most recent shows have seen him recreate a giant Eiffel Tower, a cruise ship, an indoor forest, a waterfall, and a rocket. Maybe the next show will actually take place on the moon? 

Watch Chanel’s most recent show below: