The luxury goods maker Chanel has told the BBC that he is chosen to establish their office in the united kingdom.
For the first time in its 110-year history, the brand is the collection of the majority of its global business functions under one roof.
Chanel, famous for its tweed suits, handbags and perfumes, had global sales of more than £7 last year, and employs more than 20,000 people.
He has more than 30 million followers on the social network Instagram.
Chanel told the BBC Radio 4 programme Today that “I wanted to simplify the structure of the company and of London is the most appropriate place to do that for an international company. London is the most central place for our markets, uses the English language and has strong corporate governance standards with its legal and regulatory requirements”.
The decision – which is understood to involve dozens of jobs – means that Chanel has chosen London as the base for his global team of more than other places like New York, or even of a creative center of Paris.
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Justine Picardie, editor-in-chief of Harpers’ Bazaar and Coco Chanel’s biographer, praised the measure as a mark of the world power of the trust in the united kingdom, the long-term prospects.
He pointed out that it also moves Chanel closer to one of their fastest-growing customer bases with “spending on luxury goods by the wealthy of London, the homes just behind Hong Kong, in terms of growth.”
She added: “Chanel leading the way. My strong intuition is that the others (luxury brands) is going to follow.”
The reasons of Chanel gives you of their decision echoes those cited by the likes of banks and manufacturers that have opted to move operations to the united kingdom through the years.
The news comes as many companies have expressed concern about the continued uncertainty about Brexit and future trade agreements, and the impact it can have on investment and employment.
Chanel’s decision will be good news for British designers as London Fashion Week gets underway. Are potentially facing the turmoil of their supply chains in the form of tariffs, delays at the border and the volatility of the exchange rate in the case of not treating Brexit.
Such concerns, according to Paul Alger, of the Fabrics and Textiles of the Association, to make the buyers at the fashion shows hesitate to place orders, which would be a consequence of the delivery of the next spring.
The fashion industry has contributed more than £32bn to the uk industry in the year 2017, according to the British Fashion Council. That is an increase of 5.4% in 2016, making it one of the fastest growing sectors of the economy.