When Chanel named Matthieu Blazy artistic director of its fashion activities in December 2024, it handed one of the most closely watched jobs in luxury to a designer for whom, as Vogue Business put it at the time, Chanel would be "a much bigger test" than anything before. A year after his first show at the Grand Palais, the early verdict is in, at least in the places that can be measured: Chanel is growing again, it has topped the Lyst Index for two consecutive quarters, and its leadership is being renewed around him.
"It's a good start," Blazy said after his Spring/Summer 2027 show in Paris, The Guardian reported on 6 October. "I am happy with where we are at."
Here is what has changed at the house in twelve months, and what the figures do and do not tell us.
The short answer
- Sales are growing again. Chanel's revenue rose 1.8% on a comparable basis to US$19.3 billion in 2025, after a 4.3% decline in 2024, according to the company and Vogue Business.
- Demand is visible. Chanel was the hottest brand on the Lyst Index in both the first and second quarters of 2026.
- Management is changing. A new chief financial officer arrives in January, and Bruno Pavlovsky, the executive who nominated Blazy, has left the board while keeping his operational role.
From Bottega Veneta to Rue Cambon
Chanel announced Blazy's appointment on 12 December 2024, ending six months of speculation that followed Virginie Viard's departure in June 2024, Vogue Business reported at the time. He came from Bottega Veneta, where he had been creative director since 2021, and was given responsibility for all haute couture, ready-to-wear and accessories collections, reporting to Pavlovsky, president of Chanel's fashion activities. Read his career on our Matthieu Blazy designer page.
His debut, Spring/Summer 2026, was shown at the Grand Palais in October 2025. Chanel's chief executive, Leena Nair, has stressed that the clothes themselves only reached boutiques in March 2026. "It's really early to talk about numbers," she told Vogue Business in May. "Early indicators are very good; clients are excited, staff are excited."
What the 2025 numbers show
Chanel is privately owned by the brothers Alain and Gérard Wertheimer and publishes results once a year. Its figures for 2025, released on 19 May 2026, show:
- Revenue: US$19,269 million, up 3.0% as reported and 1.8% on a comparable basis.
- Operating profit: US$4,712 million, up 5.2%.
- Free cash flow: US$2,646 million, up 43.6%.
- By region (comparable): the Americas up 7.2%, Europe up 2.5%, Asia-Pacific down 0.8%.
Most of 2025 predates Blazy's product, so the year is better read as a turning point than a verdict. Chanel's finance chief, Philippe Blondiaux, told Vogue Business that the second half brought "high-single-digit growth rates basically across all product lines, and geographies", momentum he said continued into early 2026. The company's own release credits the Chanel 25 handbag, new fragrance and watch launches, and Blazy's debut show.
What happened next is less official. Chanel has not published 2026 figures, but The Guardian, citing figures reported by Bloomberg, put growth in the first half of 2026 at 16%. That is a reported number, not a company disclosure.
The heat index
Outside the accounts, the clearest signal has come from Lyst. In its first-quarter 2026 index, the shopping platform named Chanel the world's hottest brand, citing a pair of shoes that "went viral on social media" and a reinvention of the classic flap bag among the ten hottest products. Chanel kept the top spot in the second quarter, helped by its Coco Beach and Métiers d'Art collections, WWD reported.
For anyone weighing a classic piece instead, our guide to authenticating the Chanel Classic Flap and the Chanel house file cover the bag that Blazy has been reworking.
The Charvet deal
In July 2026 Chanel bought Charvet, the Parisian maker of bespoke shirts, suits and accessories. Vogue Business reported that the move followed Blazy's collaboration with Charvet on a cotton shirt for his debut collection, priced at €3,900, which sold out when it reached Paris stores in March.
Pavlovsky framed the purchase as part of Chanel's long-running support for rare crafts, and noted a historical link: Boy Capel, a central figure in Gabrielle Chanel's life, "was a regular client of Charvet". The house said it would respect Charvet's creative independence.
The deal revived talk of Chanel menswear. Nair has been clear that "the men's line is not on the agenda", while adding that the house will keep making "a few pieces that appeal to men, as we always have".
A boardroom reset
The less visible story of the year is in management. Nair, who joined from Unilever in 2022, has been gradually renewing Chanel's senior ranks as long-serving executives retire, BoF reports.
- Finance. Blondiaux, who has been with Chanel for more than 15 years, is retiring at the end of 2026. His successor, Hélène de Tissot, joined from Pernod Ricard, where she spent two decades, most recently as executive vice president for finance and technology. She arrives in October and becomes CFO in January, reporting to Nair.
- The board. Pavlovsky, 63, left Chanel's board on 8 October, according to a UK filing reported by Bloomberg. A company representative said he keeps his operational role as president of Chanel's fashion activities. Bloomberg described the move as part of a two-year effort to make the board more independent, with non-executive appointments including Simone Bagel-Trah and Teresa Ko.
Pavlovsky has been at Chanel since 1990, worked alongside Karl Lagerfeld, helped choose Viard and later nominated Blazy. He is also president of the Fédération de la Haute Couture et de la Mode, which organises Paris Fashion Week. His step back from the board is not a step back from fashion.
The Spring/Summer 2027 show
The anniversary collection, shown at the Grand Palais in early October beneath a flock of 95 giant white birds, leaned into colour and humour, The Guardian reported, with Nicole Kidman reading from Virginia Woolf's To the Lighthouse on the soundtrack. The same model opened and closed the show carrying Gabrielle Chanel's own 2.55 bag. We covered the collection in our Paris Fashion Week report.
The industry has noticed too. Blazy is nominated for Designer of the Year at the British Fashion Council's Fashion Awards on 30 November.
What to watch next
- The 2026 results, due next spring, will be the first full year with Blazy's collections in stores.
- De Tissot's arrival in January completes the finance handover.
- Pricing. Chanel has said it intends to limit price increases, BoF reported in May.
- Menswear. Charvet and male ambassadors keep the question alive, whatever the official line.
Frequently asked questions
When did Matthieu Blazy join Chanel?
Chanel announced his appointment on 12 December 2024. His first collection, Spring/Summer 2026, was shown in October 2025 and arrived in boutiques in March 2026.
Is Chanel growing again?
Yes. Revenue rose 1.8% on a comparable basis to US$19.3 billion in 2025, after falling 4.3% in 2024. Bloomberg has reported stronger growth in the first half of 2026, but Chanel has not published those figures.
Who is Chanel's new CFO?
Hélène de Tissot, formerly of Pernod Ricard. She takes over from Philippe Blondiaux in January 2027.
Has Bruno Pavlovsky left Chanel?
No. He left the board on 8 October 2026 but remains president of Chanel's fashion activities, according to a company representative quoted by Bloomberg.
Does Chanel own Charvet?
Yes. Chanel announced the acquisition of the Parisian shirtmaker in July 2026.
Featured image: ashton, CC BY 2.0, via Wikimedia Commons. Cropped for this page.
