PARIS (Reuters) – Chanel is assured it’ll ship one other yr of stable progress regardless of a decline in gross sales in China due to a brand new spherical of lockdowns since March, its finance chief informed Reuters on Tuesday.

Philippe Blondiaux mentioned in an interview that round a 3rd of Chanel’s magnificence and fragrance shops in China have been at the moment closed in addition to 5 of its 16 trend and jewelry outlets within the nation, as a result of anti-COVID restrictions.

However he added that within the month of April, regardless of a double-digit decline in Chinese language revenues, the corporate had reported a double-digit improve in gross sales worldwide, with different Asian nations and the U.S. market performing strongly.

Blondiaux was talking after Chanel reported revenues of $15.6 billion for 2021, up 49.6% in comparison with the earlier yr.