Chanel reports 18% fall in sales to $10.1 billion in 2020

French luxury fashion house Chanel on Tuesday said that its sales declined by 18% to $10.1 billion in 2020. Chanel said that its capital expenditure amounted to a record $1.12 billion last year and its operating profit fell by 41%. Chanel spent a hefty $1.36 billion in 2020 to support its brands, Chief Financial Officer Philippe Blondiaux said.