The company, which has a diverse portfolio of handbags, perfume, cosmetics, clothing, jewellery and shoes, prides itself on being the ultimate purveyor of luxury, and sets its prices accordingly. Handbags start at around $1,500, and some sell for over $30,000. The firm’s signature perfume, Chanel No. 5, is the world’s bestselling fragrance, and costs around $100 a bottle.
The exclusivity of the brand is one of Chanel’s biggest assets, Ms Chiquet insists. After becoming Chanel’s global chief executive in January 2007, having previously been president of its American operations, she set herself two main tasks: to “upgrade” and to “modernise”.
via The Economist