Chanel Spends $81.5 Million to Buy its US Headquarters

 

 

French luxury company Chanel recently spent $81.5 million to buy a 17-story building in downtown Manhattan, New York. This building has been Chanel’s US headquarters since the early 1990s.

 

It is reported that this building was sold to Chanel by the American private equity giant The Carlyle Group through its real estate subsidiary Metropolitan Real Estate. From the data published by real estate consulting Promo Code for Zaful media The Real Deal, Chanel first signed a lease for the building in 1993 and paid $3.8 million in 2016 to renovate the building, expanding the retail area from the first two levels to seven. Floor. After the completion of the acquisition, how many floors of Chanel will be used exactly are not disclosed.

This is not the first time that Chanel has purchased property in New York. In 2014, Chanel purchased a 4,000-square-foot (about 372-square-meter) store on Madison Avenue in Madison Avenue in New York for $124 million, and then Beverly Hills in Beverly Hills. A $152 million investment in Rodeo Drive bought another store.

 

The company stated that it will invest in production and distribution facilities in the future, including a new integrated space built in northern Paris. Designed by award-winning architect Rudy Ricciotti, this space integrates most Newchic Coupon Code of the artisanal workshops scattered throughout Paris under the same roof.

 

Last week, Chanel released its first public financial report for the first time in 108 years. The data shows that Chanel's sales were $9.7 billion in 2017, an increase of 11% from 2016. Chanel CFO Pholippe Blondiaux stated that Chanel’s strong capital will support the company’s continued independence development in the coming centuries and will not consider selling the company’s equity.