Chanel Defies Luxury Slowdown as Annual Sales Surge to $20 Billion

Chanel’s revenues rose 16 percent excluding currency shifts to $19.7 billion in 2023, the French luxury house said Tuesday. Price increases drove up sales by around 9 percent, while greater volumes accounted for the rest, chief financial officer Philippe Blondiaux said.

Demand for Chanel’s quilted leather handbags, Swiss-made watches and Bleu de Chanel fragrances held strong across categories throughout the year even as demand slowed…