COVID-19 Impact on Chanel
COVID-19 Impact on Chanel June 29, 2020 based on market analysis and brand diversification by industry and geography.
The companies in the beauty and fashion industry will experience a decline in overall sales due to the spread of Coronavirus pandemic. Chanel, concentrating in single industry operations of cosmetics and toiletries, will be among the major companies to record a negative growth rate in 2020. Sectors such as fragrances and make-up do not feature in in consumers' priority purchase list during this pandemic and so will be adversely impacted by the COVID-19 in 2020. Concurrently, sectors such as personal hygiene, male toiletries, and skincare are expected to provide some resilience; however, these account for a very small share of the company's overall revenue.
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