French Haute Couture · Paris · Est. 1910
Chanel
Fashion passes, style remains.
Gabrielle 'Coco' Chanel opened her first millinery shop at 31 Rue Cambon, Paris, in 1910. Born in 1883 in rural Saumur and raised in an orphanage after her mother's death, she channelled her formative austerity into a revolutionary aesthetic: simple, comfortable clothing that liberated women from the corseted, layered fashions of the Belle Époque. Her early jerseys and sportswear — drawn from traditionally masculine fabrics — were a radical departure from the frills of her contemporaries.
Chanel's contribution to fashion is unprecedented in its breadth. In 1921 she created No. 5 — still the world's best-selling perfume, with a bottle sold every 55 seconds. In 1926 she introduced the little black dress, reclaiming black from mourning and the working class and making it the universal symbol of elegance. In 1925 the Chanel suit — boxy tweed jacket, short skirt — replaced Christian Dior's restrictive New Look with something practical and enduring. And in February 1955, she created the 2.55 — the quilted leather bag with a gold chain that freed women's hands completely.
The 2.55 (named for its creation date: February 1955) features quilted lambskin, a burgundy silk lining and a Mademoiselle lock — named for Coco's lifelong unmarried status. When Karl Lagerfeld took over as creative director in 1983 after Coco's death in 1971, he subtly updated the design with the iconic CC turn-lock, creating what is now called the Classic Flap. These two versions coexist today, both among the most coveted bags in the world. Prices for the Classic Flap have increased by approximately 60% since 2019.
Karl Lagerfeld served as creative director for 36 years until his death in February 2019 — one of the longest tenures in fashion history. He kept Chanel both commercially dominant and critically acclaimed, staging extraordinary runway shows in Grand Palais reconstructions. Virginie Viard succeeded him and led the house until 2024. Chanel remains the only major luxury fashion house to remain privately owned — the Wertheimer family, which first backed Coco in 1924, still holds 100% of the company.
Chanel's classic accessories — small leather goods, espadrilles — begin around €500–700. The 2.55 Reissue starts at approximately €8,000 in lambskin. The Classic Flap ranges from €9,000 (small) to €13,000 (jumbo). Fine jewellery and haute couture are priced on application. Chanel raises prices regularly — a Classic Flap cost approximately €4,000 in 2015 and costs more than double that today.