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Chanel Pulls Back on Price Hikes as Sales Fall 4%

The French couture and beauty giant is easing off punchy price increases and investing in new markets including India, Mexico and Canada. CEO Leena Nair and CFO Philippe Blondiaux said the luxury market remains ‘challenging’ as Chanel prepares to revamp its fashion image under new artistic director Matthieu Blazy.
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Chanel’s 2024 sales declined in a luxury market roiled by geopolitical uncertainty and stubborn inflation.

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