Covid interrupts success of Viard collections at Chanel
Luxury group Chanel has reported full-year revenues of $10.1 billion for 2020, a fall of 17.6% compared to 2019. Profit after tax was $1.4 billion, down by 42.4%.
The group said sales in its fashion division, which includes leathergoods, were heavily affected by the covid-19 pandemic in 2020. It pointed out that, ahead of the onset of the pandemic in the early part of last year, its sales for this division showed double-digit growth in all categories.
Chanel said this indicated “the strong desirability” of the collections that Virginie Viard, who took over as creative director after the death of Karl Lagerfeld in 2019, has put together for the brand.
On reporting its financial results, Chanel also reported its “carbon performance”, giving figures for the greenhouse gas emissions arising from its business activity.
Scope-one emissions, which are direct emissions from company-owned and -controlled resources, were up by 1.9% in 2020 to 16,505 tonnes of CO2-equivalent.
Scope two, which covers indirect emissions from the energy an organisation consumes in its own facilities, decreased by 41% to 19,842 tonnes of CO2-equivalent, while scope three emissions, which includes indirect emissions from upstream and downstream supply-chain partners, decreased by 25% to reach 492,739 tonnes.
