Chanel invests $1.3bn worldwide


Lucy Ingham
Lucy Ingham
Head of Content
Lucy is Head of Content overseeing all content and taking deep dives into the trends and data driving changes in payments. Previously, Lucy worked as a technology journalist and editor,… Read more
  • Chanel is ramping up investments to strengthen and expand its brand equity.
  • The investment plan includes expanding its international footprint in France and China.
  • Chanel’s investment strategy aims to attract overseas high net-worth individuals (HNWIs) and luxury shoppers by opening 565 new retail boutiques worldwide.

Chanel, a global luxury designer brand, is ramping up investments, opening new boutiques and refocusing its business plan to strengthen its brand equity and remain competitive in the luxury goods market.

In an interview on 25 May, Leena Nair, Chanel’s global chief executive officer, stated that Chanel will be investing $1.3bn in capital expenditure in 2023-2024, hoping to continue to bolster investments in communication and events.

Nair also said that the firm’s policy is to concentrate on establishing its brand name in every territory in which it functions, and to take a long-term perspective in its investment aims.

The brand became the first European fashion company to present a 2023 fashion show in sub-Saharan Africa, with the Métiers d’Art collection in Senegal’s capital Dakar. Afterwards, Chanel put up exhibitions in both Dakar and Paris.

Some focus areas for Chanel’s investment strategy include expanding its presence in international markets; increasing its range of products and services targeted at HNWIs; and growing its presence in the high-end fashion market through strategic partnerships with brands such as Karl Lagerfeld.

HNWIs wishing to purchase from Chanel’s luxury boutiques in Asia or Europe will require a safe money transfer method to ensure that their funds reach their destination securely.

In 2022, Chanel opened 565 new retail stores in 39 countries, such as France and China, allowing HNWIs to access its products more efficiently.

Individuals and businesses need access to a reliable and cost-effective international payments service to manage their purchases effectively, especially as Chanel expands its luxury expands to a wider variety of countries.

Chanel increased its investments in brand support activities by 14.3% in the past year, reaching $2.05bn.

This significant hike in funds is partly due to extensive commercial campaigns with celebrities such as Timothée Chalamet and worldwide services tailored to its high-net-worth customers.

HNWIs looking to purchase luxury items abroad can use our online money transfer tool to find the best rates available.

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