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Chanel Owners Pocket $5B Windfall On Post-Pandemic Boom: Bloomberg

Benzinga Real-time News · Jun 10, 2022 07:30

French luxury fashion brand Chanel's owners raked in a $5 billion windfall in 2021, Bloomberg reported.
Citing the U.K. filings, the report noted Wertheimer family, which owns the brand, got two $2.5 billion dividends in 2021 through their Cayman Islands-based holding company.
The surge in the global demand for Chanel's products shot the owner's fortunes to new highs.
Specifically, the report cited Bloomberg Billionaires Index that the Wertheimers' net worth skyrocketed 37% in 2022 to $90 billion.
The company looks to invest $1 billion in 2022 and plans to hire more than 3,500 workers, the report added.
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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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