Emmanual Macron will have been choking on his croissant this morning as Chanel announced that – despite Brexit – they were snubbing Paris to set up their global office in London. Sacré bleu!
The legendary fashion house generated global sales of over £7 billion last year and has chosen London as the place to consolidate its global operations for the first time, despite being founded in Paris over 100 years ago. Several senior executives are set to move and the company’s main New York offices have relocated to London, bringing dozens of jobs with them. Zut alors!
Chanel told the BBC that it “wanted to simplify the structure of the business and London is the most appropriate place to do that for an international company. London is the most central location for our markets, uses the English language and has strong corporate governance standards with its regulatory and legal requirements.” Chouette!