PARIS:

Arab Times - - NEWS/FEATURES -

Leg­endary French fash­ion house Chanel said Fri­day it had moved staff from New York to its global hub in Lon­don, a wel­come change for the Bri­tish cap­i­tal which has been un­der threat of com­pa­nies pulling out be­cause of Brexit.

Chanel, founded 110 years ago by Coco Chanel, said it had de­cided re­cently to unite all its global func­tions in one place in an ef­fort to sim­plify and ra­tio­nal­ize its struc­tures, and chose Lon­don.

In a state­ment to AFP, Chanel said Lon­don now houses its Chanel Lim­ited hold­ing struc­ture, which groups most of the com­pany’s units pre­vi­ously scat­tered over var­i­ous hold­ing com­pa­nies.

“The ma­jor­ity of the com­pany’s global func­tions which were pre­vi­ously in New York have been trans­ferred to Lon­don,” it said. (Agen­cies)

Newspapers in English

Newspapers from Kuwait

© PressReader. All rights reserved.