Record Results Despite the Downturn: Chanel Earns Over 2 Trillion Won in Korea Alone [Luxury Price Watch]

[The Financial News] French luxury brand Chanel posted record results last year, generating more than 2 trillion won in revenue in the Korean market.
According to financial results released by Chanel Korea on the 25th, last year’s revenue came to 2.013 trillion won, up 9% from a year earlier.
Over the same period, operating profit rose 25% to 336 billion won, while net profit climbed 24% to 256 billion won.
Chanel Korea’s revenue has continued to grow, from 1.2238 trillion won in 2021 to 1.5913 trillion won in 2022, 1.7038 trillion won in 2023 and 1.8446 trillion won in 2024. It surpassed the 2 trillion won mark for the first time last year, setting a new record.
Chanel Korea stated that it saw balanced growth across all divisions, including fashion, fragrance and beauty, and watches and fine jewelry.
In the fashion division, the opening of a new boutique at Shinsegae The Heritage and a duplex boutique at Incheon International Airport helped expand customer touchpoints. The newly launched “Chanel 25 Bag” also received a strong response in the Korean market.
In fragrance and beauty, the brand sustained its growth through marketing campaigns with its Korean ambassadors and a series of new product launches. The watches and fine jewelry division also delivered steady results, supported by the launches of the “J12 Bleu” and “Première Galon.”
Chanel Korea has also stepped up investment in its workforce and employee benefits.
As of the end of last year, the company had more than 1,900 employees, an increase of 3% from the previous year.
Brand investment totaled 171 billion won, up 1% year-on-year, while spending on human resources rose 7% to 173 billion won. Donations increased 8% to 2.06 billion won.
[email protected] Kim Su-yeon Reporter