According to the Swiss medium balance sheet, which publishes a ranking of the 300 largest fortunes in Switzerland every year, puts the fortune of Gérard Wertheimer, who co-owns the fashion house Chanel with his brother, at between 38 and 39 billion Swiss francs (about the same amount in euros) estimated. Gérard Wertheimer is the second richest Swiss:in and surpasses the heirs:in the Swiss pharmaceutical company Roche.
“Chanel’s numbers for 2021 are staggering,” reported balance sheet. The outlet said the luxury brand had record sales across all categories – fashion, leather goods, watches, perfume and personal care – and reported sales of $15.6 billion, up 27 percent from 2019. Net income increased 68 percent. The magazine challenge estimated the fortune of Alain and Gérard Wertheimer and their family in 2022 at 80 billion euros.
Is Chanel British Now?
What is even more puzzling is the fact that Chanel was recently the subject of an investigation (which has not been denied, but has not been confirmed either). glitz Magazine, a professional, investigative publication on the global luxury market. It states that “Chanel has finally moved its decision-making and financial center to London after a long reorganization of its operational and legal structures”. The magazine asked: “When the Wertheimer brothers moved their company to London, did they want to take advantage of the opportunities presented by the United Kingdom’s withdrawal from the European Union? Was the group’s motivation for moving its headquarters to London tax-related?”
The three-part report, which is freely accessible, is thorough. She informs: “Chanel paid US$442 million to purchase the Bond Street building, the upper floors of which are now the headquarters of Chanel Ltd. house, the British company that controls the entire company founded by Gabrielle Chanel. Following this transaction, the Bond Street building became Chanel’s global operations center, although the group, which has never claimed to have moved to the British capital, refuses to identify it as such.”
This article was similarly published on FashionUnited.fr. Translation and editing: Barbara Russ