Chanel Announces Layoffs

Chanel first announced its layoffs after opening up luxury products.

In fact, Chanel's performance growth has stagnated in the past year, which is a difficult year.

Last week, the group announced that it would terminate the world mobile art exhibition in order to focus its resources on reforming its investment strategy.

Chanel spokesman explained at the time that for the future development, the company would prefer to refocus its resources on strategic investment projects, and indicated that it would focus on opening more branches and developing new products in the future, and would not continue to pursue "unprofitable projects".

At the same time, Chanel said: recently the sales volume is insufficient, and reiterates the commercial viewpoint that chasing the industry that can't sell things is meaningless.

According to the French Federation of trade unions, the reason for Chanel's layoffs is that the group's business has shrunk dramatically.

It is reported that the group's growth rate will be zero this year.

The 31 layoff of Kang Peng street was seen as a sign of the shrinking of the luxury sector.

In recent years, influenced by the good momentum of global economic development, the luxury industry is almost a profiteering industry.

However, under the influence of the global financial crisis, the industry will inevitably be affected.

Louis Weedon (Louis Vuitton) announced that the opening of new flagship store in Tokyo will be postponed indefinitely.

Bvlgari (Bulgari) has not yet given its financial forecast for 2009.

Prada (Prada) stunned Milan on Christmas day because they put a discount card in the window.

Analysts at J.P. Morgan think that the sales of global luxury goods industry will be reduced by at least 4% in 2009.