Chanel's Sales Reach 1.8 Trillion KRW Last Year... Record High Performance

Headquarters Dividend Decreases to 130 Billion KRW from Previous Year

Chanel recorded sales of 1.85 trillion KRW in the Korean market last year. Despite the economic downturn last year, which seemed to significantly reduce luxury consumption, Chanel achieved its highest-ever performance since the disclosure of the Korean subsidiary's results.

Yonhap News

According to Chanel Korea's audit report on the 15th, Chanel Korea's sales amounted to 1.8445 trillion KRW, an increase of about 8% compared to the same period last year.

During the same period, operating profit decreased by about 1%, from 272.1 billion KRW in 2023 to 269.4 billion KRW. This was affected by an increase in selling and administrative expenses due to higher salaries and retirement benefits.

Donations increased by 600 million KRW to 1.9173 billion KRW compared to 1.3 billion KRW the previous year.

Dividends paid by Chanel Korea to the headquarters decreased. Dividends paid to the headquarters from sales amounted to 130 billion KRW, about 160 billion KRW less than last year's 297.5 billion KRW. Chanel Korea did not pay interim dividends after the year-end dividend last year. Dividends paid to the headquarters account for 7% of total sales.

Meanwhile, in June last year, Chanel Korea's parent company changed from Chanel S.a.r.l (Chanel holding company) in Luxembourg to Chanel Limited (UK).