If you’re a fashion enthusiast, you’ve probably heard of Chanel. The iconic fashion brand is known for its timeless elegance and sophistication. However, there has been some confusion about who owns Chanel.
One of the most popular theories is that the Wertheimer family owns the fashion house. But is this true? Let’s dive in and find out.
Who are the Wertheimers?
The Wertheimer family is a French Jewish family that made its fortune in the cosmetics industry. The family patriarch, Pierre Wertheimer, partnered with Coco Chanel in 1924 to launch Chanel No. 5 perfume, which became an instant hit.
Did the Wertheimers buy out Chanel?
Contrary to popular belief, the Wertheimer family did not buy out Chanel. In fact, they only owned a minority stake in the company until 1947 when they bought full control of Parfums Chanel, which controlled all of Chanel’s fragrance and beauty lines.
What does this mean for Chanel?
Today, Parfums Chanel is still owned by the Wertheimer family and controls all of Chanel’s fragrances and cosmetics lines. However, the fashion house itself is owned by a separate company called Chanel International B.V., which is based in Amsterdam.
Who owns Chanel International B.?
Chanel International B. is wholly owned by Alain Wertheimer and Gerard Wertheimer, who are both members of the Wertheimer family.
In conclusion
So to answer the question: Does the Wertheimer family own Chanel? Yes and no.
While they do control all of Chanel’s fragrance and beauty lines through Parfums Chanel, they do not directly own the fashion house itself. Instead, it’s owned by a separate entity that’s wholly owned by members of the Wertheimer family.
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