The South Korean subsidiary of the French luxury brand Chanel, Chanel Korea, saw a slight decrease in operating profit last year. Revenue recorded an all-time high.
According to the Financial Supervisory Service's electronic disclosure system on the 25th, Chanel Korea's revenue last year was 1.8446 trillion won, an increase of about 8% compared to the previous year.
During the same period, operating profit dropped 1% to 269.4 billion won. Net profit fell 6% year-on-year to 206 billion won. The increase in payroll and retirement benefits impacted the rise in selling and administrative expenses.
The dividends paid by Chanel Korea to its headquarters amounted to 130 billion won, a decrease from 297.5 billion won in 2023.
Donations increased by 600 million won to approximately 1.9 billion won compared to the previous year.
Chanel Korea was established in September 1991. In June of last year, the controlling company changed from Chanel S.a.r.l in Luxembourg (Chanel holding company) to Chanel Limited in the UK.