There is a common misconception that LVMH (Moët Hennessy Louis Vuitton) owns Chanel. However, this is not the case. Chanel is privately owned by the Wertheimer family and has been for decades.
Who are the Wertheimers?
The Wertheimer family acquired Chanel in 1954 when Coco Chanel was looking for a financial partner to help her grow her business. The Wertheimer brothers, Pierre and Paul, provided the funding and expertise needed to expand Chanel into the global powerhouse it is today.
What is LVMH?
LVMH, on the other hand, is a luxury goods conglomerate that owns several high-end brands such as Louis Vuitton, Dior, Givenchy, Fendi, and more. It was founded in 1987 through the merger of two French fashion houses: Louis Vuitton and Moët Hennessy.
Why do people think LVMH owns Chanel?
There are a few reasons why people believe that LVMH owns Chanel. Firstly, both companies are based in France and operate in the luxury goods industry. Secondly, both brands have a reputation for producing high-quality products with a strong focus on craftsmanship and design.
However, despite these similarities, Chanel has remained independent from LVMH. In fact, there has been some tension between the two companies over the years. In 1996, LVMH acquired a stake in Gucci – one of Chanel’s competitors – which led to some speculation that LVMH was trying to take over Gucci and potentially even acquire Chanel as well.
Conclusion
In conclusion, while LVMH does own several high-end fashion brands, it does not own Chanel. The Wertheimer family remains firmly in control of one of the world’s most iconic fashion houses, and it seems unlikely that this will change anytime soon. So the next time you’re shopping for luxury goods, remember that Chanel is an independent brand with a rich history and legacy all its own.