Chanel Says Coronavirus Impact Will Affect Luxury Sector for Next Two Years

Despite the coronavirus pandemic slowly getting under control, French luxury goods company Chanel predicts that the lingering effects on the economy will impact the luxury sector for at least the next two years."We anticipate that the external environment will continue to impact the luxury sector negatively for at least the next 18 to 24 months," says Chanel's CFO Philippe Blondiaux in an interview with Reuters. Despite these predictions, the group has seen a 13 percent growth since 2019 and exp...