PARIS — Chanel reported that operating profits fell 22.7 percent last year to $1.6 billion as revenues sank 16.9 percent to $6.24 billion.
Chanel International BV, a company registered in the Netherlands, filed the figures with the Amsterdam chamber of commerce.
It is understood the numbers do not include sales of perfumes and cosmetics, which declined 21 percent last year to $2.91 billion, according to French financial daily Les Echos.
“Chanel publishes its financial results as required by law but never comments on this type of information as a private enterprise,” the company said when contacted about the Dutch filing, obtained by WWD.
Billionaire brothers Alain and Gerard Wertheimer control the storied French brand, whose couturier is Karl Lagerfeld.
The numbers suggest that Chanel, prized for its quilted handbags, bicolor fashions and No. 5 perfume, is not immune to the slowdown gripping the luxury sector, with global tourism in a downward spiral, and demand anemic in emerging and established markets alike.
Last year, Chanel began to align its global pricing to reduce the allure of price differentials and to position the brand for an eventual leap into e-commerce. The move was designed to stamp out rise in the parallel market, mainly in China and Southeast Asia.
Asked at the time if the pricing policy might disrupt the company’s business momentum, Bruno Pavlovsky, Chanel’s president of fashion activities, told WWD: “I’m quite optimistic,” he said. “If we can do this, it’s because the brand is very strong,” he continued, adding that “2014 has been the best year ever at Chanel, and we feel we are strong enough to do this.”
In 2014, Chanel International BV recorded sales of $7.51 billion and operating profits of 2.08 billion, according to the chamber of commerce.