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COVID-19 will impact results for up to 24 months.
June 19, 2020
By: Happi Staff
After a stellar 2019, which saw sales jump 13%, Chanel executives warned analysts that 2020 results will be heavily impacted by COVID-19, and that the pandemic's impact may be felt for years. Last year, sales totaled $12.2 billion, led by gains in all regions and categories despite challenging economic conditions, demonstrations in Hong Kong and strikes in France. Sales in Asia Pacific rose 14.7% to $5.4 billion and European sales rose 5.9% to $4.5 billion, but the company noted t...
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