French luxury house Chanel is set to open dedicated boutiques for top-spending shoppers in key Asian cities in 2023.
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“Our biggest preoccupation is to protect our customers and in particular, our pre-existing customers. We’re going to invest in very protected boutiques to service clients in a very exclusive way,” said Philippe Bondiaux, CEO of Chanel.
The announcement comes just days after Chanel reported a 50 percent increase in revenue from 2021 to USD 15 billion, with earnings soaring over pre-pandemic levels owing to ready-to-wear, jewellery, and watches. Despite the growth in sales, Chanel remains insistent about not selling its highly coveted ready-to-wear, bags, and accessories on its website.
Chanel has 250 outlets (excluding its beauty-only outposts), which is around half the number of comparable companies like Louis Vuitton and Gucci. Chanel’s restricted number of boutiques have become crowded with queues of customers eager to get their hands on accessories, beauty, and fashion as sales continue to rise.
Opinions say that Chanel’s position among competing premium labels, such as Hermès, will be bolstered by the launch of private boutiques. The move is in line with Chanel’s other recent moves, which include boosting handbag pricing and imposing a purchase limit on the brand’s most popular items.