Chloé, the prestigious luxury brand under the ownership of Richemont, has announced its decision to phase out its See By Chloé line over the next three years. The objective behind this move is to enhance Chloé’s standing as a top-tier luxury label and to sustain the success of its main brand. Initially introduced by Phoebe Philo in 2001, See By Chloé’s creative direction was taken over by Emily Harris in 2019. With 19 stores in Japan and a heavy emphasis on wholesale distribution, particularly in Europe and the United States, the brand has carved out a notable presence in the market.
Simultaneously, Chloé is embracing a purpose-driven business model with Gabriela Hearst leading the design team. The brand’s third collection under her leadership, unveiled recently, has received rave reviews. In January, Richemont reported robust performance in the third quarter, witnessing increased demand for jewelry and watches in the Americas and Europe, leading to sales of €5.658 billion. This represents a 32% growth at constant currency rates and a 35% growth at actual exchange rates. The fashion and accessories maisons within Richemont experienced a year-on-year growth of 37% at constant currency rates, or 40% at actual exchange rates, driven by the success of Chloé, Alaïa, Montblanc, and Peter Millar.
Chloé’s strategic decision to discontinue the See By Chloé line aligns perfectly with the brand’s future vision. By redirecting resources and efforts towards the main Chloé brand, they aim to cement their position as a dominant force in the luxury industry. With the recent accomplishments of Gabriela Hearst’s collections and Richemont’s strong performance in Q3, it will be fascinating to observe how Chloé continues to transform and make a significant impact in the luxury fashion market.
Useful links:
– Chloé Official Website
– Richemont Official Website
