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| ▲ This file photo shows CHANEL. (Yonhap) |
SEOUL, April 15 (Yonhap) -- Last year, while luxury market has rapidly grown with the influence of revenge spending, a leading luxury brand, CHANEL shows significant increase in domestic sales.
According to the audit report by CHANEL KOREA on the 14th, the sales rose 31.6% to 1.2237 trillion won (US$995,930,658.42 dollars) in 2021 from 929.5 billion won (US$756,490,599.82) a year before.
This year's operating profits rose 66.9% to 248.9 billion won (US$202,538,855.89) from 149.1 billion won (US$121,328,016.93) a year earlier, and also the net profit rose 67.8% to 179.3 billion won (US$145,926,589.08) from 106.8 billion won (US$86,906,989.99) a year before.
Especially, the whole sales performance of CHANEL improved with domestic business sales increasing up to 37%, while the tax-free business sales decreased 30% compared to the sales a year before due to COVID-19 crisis.
In 2020, because of the downturn of tax-free business, the sales decreased 12.6% compared to the sales a year before.
In terms of domestic business performance, the sales of 'Ready-to-wear' collection highly increased in fashion category.
In cosmetics category, perfume sales increased a lot with launching N°5 100 years anniversay collction, and online sales increased through Kakao Talk Gift.
In addition, with the popularity of COCO CRUSH, watch and Fine Jewelry catery recorded double-digit growth as well.
CHANEL KOREA assessed themselves saying, "Protection of employees' jobs is a top priority even if COVID-19 is still affecting the tax-free business."
They added that more than 92% of CHANEL KOREA's employees are full-time, 86% are women, and 95% of women who gave birth last year used additional child-care leave.
Also, they explained that they are continuing donation to non-profit organization to fulfill social responsibility.
According to the audit report, CHANEL donated 700 million won (US$569,615.10) last year.
A Chief Financial Officer of CHANEL KOREA, John Hwang, said that "Last year, we invested on new boutique venue including Incheon International Airpot in order to reinforce CHANEL KOREA's position."
Last year, CHANEL KOREA opened new boutique in Incheon International Airport Terminal 1 and Sinsegae Department Store Daegu, also launching pop-up boutique in Jeju.
Meanwhile, HERMES and LOUIS VUITTON, which are called three main luxury brands along with CHANEL, both showed domestic sales increase last year.
HERMES KOREA's last year domestic sales rose 25.8% to 527.5 billion won (US$429,175,819.71), and that of LOUIS VUITTON KOREA rose 40.2% to 1.468 trillion won (US$1,194,112,407.63).
(This article is translated from Korean to English by Kim Jimin,)
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