When Karl Lagerfeld passed away in February 2019, the fashion world was left in shock. The legendary designer had been at the helm of Chanel for over three decades and was widely regarded as one of the most influential figures in the industry. But with his passing came a question that many were curious about: Who owns Chanel now?
The History of Chanel
Before we dive into the ownership of Chanel, let’s take a quick look at the history of this iconic brand. Chanel was founded by Gabrielle “Coco” Chanel in 1909 and quickly became known for its timeless designs and impeccable craftsmanship. The brand’s signature pieces, such as the little black dress and quilted handbags, have become staples in fashion history.
In 1983, Karl Lagerfeld took over as creative director of Chanel, bringing his unique vision to the brand and helping it to evolve while still staying true to its core values. For over three decades, Lagerfeld was instrumental in shaping the direction of Chanel and cementing its place as one of the most iconic fashion houses in the world.
Chanel’s Ownership Structure
So who owns Chanel now that Karl Lagerfeld has passed away? The answer is somewhat complicated.
Chanel is privately owned by Alain Wertheimer and Gérard Wertheimer, who are brothers. Their grandfather Pierre Wertheimer originally partnered with Coco Chanel to launch her brand back in 1924. Together they created Parfums Chanel, which would go on to become one of the most successful fragrance lines in history.
Today, Alain and Gérard Wertheimer are co-owners of both Parfums Chanel and Fashion Chanel (the division responsible for clothing and accessories). They have kept a relatively low profile over the years but are known for being fiercely protective of the brand’s heritage and legacy.
The Future of Chanel
With the passing of Karl Lagerfeld, many have wondered what the future holds for Chanel. Lagerfeld’s shoes are undeniably big ones to fill, but the brand has already taken steps to ensure that its creative vision will live on.
Virginie Viard, who had worked alongside Lagerfeld for over 30 years, was named as Chanel’s new creative director in February 2019. Viard is no stranger to the brand and has played a key role in shaping its collections in recent years. Her appointment has been seen as a nod to continuity and a signal that Chanel will continue to honor its rich history while also embracing new ideas and perspectives.
The Bottom Line
Chanel is privately owned by Alain Wertheimer and Gérard Wertheimer, who inherited the company from their grandfather Pierre Wertheimer. With Karl Lagerfeld’s passing, Virginie Viard has taken over as creative director and is charged with carrying on the brand’s legacy.
While questions about the future of Chanel remain, one thing is certain: this iconic brand will continue to inspire and captivate fashion lovers around the world for generations to come.