Editor’s Note
While Chanel, as a private company, does not release interim sales figures, its leadership expresses confidence in its strategic positioning to navigate current market turbulence. This analysis, based on an interview with the president of its watch and jewelry division, examines the foundations of that resilience.
Chanel is among the houses known for weathering economic cycles. This is certainly also the case during the current turmoil in the luxury industry. However, as the company is not publicly listed, no interim figures are published – consolidated results are typically released in the spring. Frédéric Grangié presides over the watch and jewelry division. He does not confirm any specific trend, but his responses indicate that everything is in place to navigate the period smoothly: very limited exposure to China, direct distribution, and a strategy aligned with a 2050 horizon.
Le Temps: Let’s start with a somewhat indirect question, which may seem elementary but is at the heart of the luxury issue today: what is your definition of high-end?
Frédéric Grangié, President of Watches and Jewelry at Chanel, analyzes the current crisis in the sector with care. He argues that the key issue is the commoditization of luxury, not external markets. His proposed solution focuses on creativity and a long-term vision.