Chanel, founded by Coco Chanel in 1910 has released its annual results for the first time in its 108-year history. It also announced a reorganisation that aims to bring its various companies under one roof. The figures released revealed that the company registered total sales of $9.62 billion for the 2017 calendar year. This was an increase of 11 percent compared to the previous year on a constant-currency basis. That growth was primarily driven by sales in the Asia-Pacific region and in Europe, while operating profit was recorded at $2.69 billion.

Synonymous with French high fashion and blockbuster Parisian runway shows, Chanel is one of the biggest brands in the global luxury business. It is a French privately held company owned by Alain Wertheimer and Gérard Wertheimer, grandsons of Pierre Wertheimer. Chanel S.A. is a high fashion house that specialises in haute couture and ready-to-wear clothes, luxury goods, and fashion accessories.