By  on June 17, 2019

PARIS — The secretive Wertheimer family has a long-term plan for its crown jewel, Chanel, and a sale or initial public offering is not on the agenda. Instead, it more than doubled investment last year, spending more than $1 billion to make sure the maker of quilted handbags and No. 5 perfume remains at the top of the luxury pyramid.

Chanel reported on Monday that revenues totaled $11.12 billion last year, up 10.5 percent at comparable rates, driven by strong double-digit growth in the Asia-Pacific region — again placing it neck-and-neck with Louis Vuitton as the world’s biggest luxury brand.

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