The mission of Chanel stays true to the founder’s vision and life legacy. The mission statement as read from the company’s website reads that Chanel wants to focus on becoming the “Ultimate House of Luxury, defining style and creating desire, now and forever.” The vision of Chanel is hence to work towards a future where the company is able to retain the position it has in the market and in such a way that it is the ultimate business that people seek in the context of luxury fashion.
1.2. Description of the product and/or service offered
The company Chanel S.A. is a fashion product company that works and manufactures ready to wear clothing line of haute couture, luxury brands and fashion goods. The company was the master child of Gabrielle Chanel, known more popularly as Coco Chanel. Coco Chanel inspired by the fashion trends in the continent and later on her trips to the United States was inspired to create product brands reflecting her fashion sensibility. The Chanel products are mostly high end fashion.
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The Chanel products were unique when they were created. The Chanel 5 product is still a patented composition of the company. Similarly, the design works of the company and more are still patented and are continued to be recognized as unique in their creations. However, the concept of high end fashion that the company sells is not unique in itself as there are other competitors who sell the same.
1.4. Company Ownership
Chanel is a French privately owned company. The owners of the company are Alain and Gerard Wertheimer who are the grandsons of Pierre Wertheimer. Wertheimer himself was the business partner of Coco Chanel. The company was initially formed with Chanel No.5. In current times, it has diversified and has included such offerings as clothing and other accessories. The Wertheimer family had a strong controlling interest in Chanel for a long time; however, the company’s creative direction was Coco Chanel.
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