Chanel is one of the most iconic fashion houses in the world, known for its timeless designs and luxurious products. But do you know who owns this coveted brand today? Let’s take a closer look.
Introduction to Chanel
Chanel was founded in 1909 by Gabrielle “Coco” Chanel, a French fashion designer who revolutionized women’s fashion with her elegant designs. The brand quickly gained popularity and became known for its signature tweed jackets, little black dresses, and quilted handbags.
Who Owned Chanel After Coco Chanel?
When Coco Chanel passed away in 1971, ownership of the company passed to a group of investors led by Pierre Wertheimer. Wertheimer had been instrumental in helping Coco Chanel launch her first perfume, Chanel No. 5, and had a long-standing business partnership with her.
The Wertheimer family continued to own a majority stake in the company for many years, with Alain Wertheimer serving as Chairman and CEO. In 2019, however, the family sold their shares to the Qatar Investment Authority (QIA), making QIA the new majority owner of Chanel.
Who Owns Chanel Today?
Today, QIA owns 100% of the shares in Chanel Limited, which is the holding company for all of the brand’s businesses. The exact purchase price for QIA’s acquisition has not been disclosed, but it’s estimated to be around $19 billion.
Despite this change in ownership, there have been no major changes to Chanel’s leadership or business strategy. The brand continues to be led by CEO Alain Wertheimer and remains committed to its heritage of timeless design and luxury.
Conclusion
In summary, while Coco Chanel may have been the original founder of this iconic brand, ownership has since passed through several hands. Today, Chanel is owned by the Qatar Investment Authority, but the brand’s commitment to timeless design and luxury remains unchanged. From its signature tweed jackets to its iconic handbags, Chanel continues to be a symbol of elegance and sophistication in the fashion world.