Remarkable Resilience of Chanel: Study on Brand Performance and Strategies during the COVID-19 Pandemic

Abstract

The luxury market has experienced a significant downturn during the COVID-19 pandemic and the ensuing lockdown period. This article delves into Chanel's strategies, including pricing strategy, marketing strategy, and brand positioning, that allowed the brand to thrive during this unique period and maintain its leadership position in the fashion industry. Additionally, the drawbacks of Chanel's limited embrace of e-commerce are discussed, along with possible improvements of expanding its digital presence, increasing sustainability efforts, and focusing on exceptional customer service to drive future growth. Through a comprehensive analysis of brand strategies, this study offers valuable managerial insights and practical recommendations for companies in the luxury goods industry, contributing to a deeper understanding of Chanel's unwavering position and aiding businesses in navigating present and future challenges.