French press has focused its attention on Chanel's finances over the weekend, with ‘Challenges’ magazine unveiling the French fashion house's investment of 270 million euros in real estate, mainly through the acquisition of ownership of its own stores.
According to ‘Le Monde’, 85 percent of this investment in real state is located in Paris.
As reported by ‘WWD’, which quotes ‘Challenges’ magazine's figures, Chanel posted net profits of 726 million euros in 2014, far behind the previous year's 1.13 billion euros. It´s noteworthy that 2012's figures included an exceptional capital gain of 496 million euros.
The magazine reported Chanel’s operating profits for 2013 were 1.15 billion euros, up 8.5 percent from a year earlier. Sales also gained 8.5 percent, to 4.98 billion euros in 2013.
At the time of this edition, Chanel official preferred not to comment.