Abstract
The Chanel fashion house, more commonly known as Chanel, is a French fashion house founded by Gabrielle Chanel (1883-1971) called "Coco Chanel". At a time when many famous and luxury fashion houses were created, Chanel has maintained its independence. Since 1924, Chanel has belonged to Wertheimer Brothers, a family business.
Between private capital and continuous innovation, Chanel has created a unique business model. Since 1983, Karl Lagerfeld has held the position of artistic director of Chanel Fashion House. Chanel follows a global brand strategy, since it sells all its products under one name. The advantage of this strategy is to give the reputation of a brand to all its products.
Nowadays, Chanel is a worldwide reference in the domain of perfumes. The company originally introduced its range in developed countries with populations enjoying high purchasing power, which is only logical regarding the brand's luxury reputation and its prestigious history. Chanel now has to face the growing globalization phenomenon, which forces the company to settle in new markets and expand its reputation towards tough competitors.
