Chanel has told the BBC that it’s elected to set up its global office in the UK.
The luxury group has told BBC Radio 4’s Today programme that it “wanted to simplify the structure of the business and London is the most appropriate place to do that for an international company. London is the most central location for our markets, uses the English language and has strong corporate governance standards with its regulatory and legal requirements”.
The decision also means that the global brand has picked London over other favourite locations such as New York, or Paris.
The luxury goods maker, renowned for its tweed suits, handbags and perfume, had global sales of over £7bn last year.