Chanel resets creative agenda as Blazy debut ignites demand halo
Bottom Line Impact
Blazy's debut should lift near term revenue via higher RTW and accessory sell through, expand margins by mix and potential price action, strengthen Chanel's market leadership, and elevate brand equity with a modern classic code that can sustain pricing power into 2026.
Key Facts
5- Chanel 2024 revenue was 18.7 billion dollars, down 4.3 percent year on year, underscoring the need for near term demand reacceleration
- Blazy's appointment was announced in Dec 2024, giving roughly 9 months of runway to debut; show staged at the Grand Palais with a solar system set
- The collection marked a clear shift with trouser led openings and Charvet made shirts, signaling upgraded tailoring and fabric engineering
- Senior merchants at Nordstrom, Bergdorf Goodman, Galeries Lafayette, and Net a Porter publicly called out strong commerciality on day one, citing covetable accessories and modern proportions
- Roger Vivier's ambassador forecast strong sell through for a beige trench with black trim and a sharp black suit, positioned to be high volume boutique drivers
Executive Summary
Matthieu Blazy's first Chanel show delivered a decisive creative reset that buyers and cultural influencers immediately endorsed, a timely catalyst as Chanel navigates a 4.3 percent revenue decline in 2024 to 18.7 billion dollars. Expect a surge in boutique demand for RTW and accessories, with a spillover boost for multibrand retailers merchandising Chanel-adjacent aesthetics and for Roger Vivier in ballet-flat aligned silhouettes.
Actionable Insights
Immediate Actions (Next 30-90 days)
Secure 6 month capacity options with Charvet and two backup ateliers for shirts and tailored trousers; pre allocate fabric for top five hero SKUs and lift RTW buy by 20 percent in Tier 1 boutiques
Rationale: Early signal of high demand around tailoring will bottleneck without upstream commitments; unlocking RTW stock turns drives mix and margin while momentum is highest
Role affected:Chanel COO
Urgency level:immediate
Run a 6 week global VIC roadshow with boutique trunk shows and private fittings, seeding front row talent content; target 60 percent of invites to top 5 percent spenders
Rationale: Concentrated clienteling within 30 to 45 days maximizes show to floor conversion and supports secondary price action credibility
Role affected:Chanel CMO Chief Client Officer
Urgency level:immediate
Short-term Actions (6-12 months)
Shift 200 to 300 bps of open to buy into boyish tailoring, fringe knitwear, and black trim neutrals; launch Chanel adjacent capsules and homepage edits within 2 weeks
Rationale: Capturing halo demand can lift designer comps 2 to 3 percent and expand gross margin by 100 to 150 bps via higher AUR and improved sell through
Role affected:Nordstrom Bergdorf Goodman Galeries Lafayette Net a Porter Chief Merchant
Urgency level:short-term
Advance a capsule of ballet flats and low heels with black piping and elongated toe; allocate 20 percent additional digital spend to conquest Chanel interest audiences
Rationale: Aesthetic proximity provides a fast follower opportunity to gain 8 to 10 percent sell through uplift and incremental market share in premium flats
Role affected:Roger Vivier CEO Creative Director
Urgency level:short-term
Risks & Opportunities
Primary Risks
- Supply constraints in tailoring and shirting could cause 4 to 6 week delays, eroding momentum
- Potential alienation of traditional tweed focused clients if assortment balance skews too far toward boyish codes
- Macro softness in China and the US could cap upside, with FX volatility pressuring dollar reported growth
Primary Opportunities
- Price power reinforcement enabling a 3 to 5 percent handbag price action in the next 6 months
- New client acquisition among under 35s rising 10 to 15 percent via refreshed community and content
- Cross category amplification in fine jewelry, shoes, and RTW accessories that lifts blended gross margin by 150 to 250 bps