Chanel COO John Galantic Steps Down, Effective June 30th

Chanel confirmed that its President and Chief Operating Officer, John Galantic, will step down from his position to pursue other career opportunities, effective June 30th.

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Chanel confirmed that its President and Chief Operating Officer, John Galantic, will step down from his position to pursue other career opportunities, effective June 30th.

Galantic joined Chanel in 2006 and previously served as President of Coty Beauty Americas, as well as holding senior positions at SmithKline Beecham and Procter & Gamble. He was responsible for leading Chanel's strategic and operational activities in the United States, overseeing fashion, accessories, watches, high jewelry, beauty and fragrance, as well as wholesale distribution and independent retail.

During his tenure, Galantic drove Chanel to use e-commerce platforms in the US, charting a course for Chanel.com's global website and developing the first customer application to extend one-on-one luxury services beyond the boutique.

“During his time with Chanel, John Galantic has built the brand and the business of Chanel Inc. into a true powerhouse. In 2017, he additionally took on a global leadership role to establish and oversee the Global Digital Services (GDS) to grow our Chanel.com and digital capabilities. Under his leadership, Chanel Inc. pioneered a transformational client centric model, increasing Chanel’s owned distribution and elevating client experience as well as profitability, growing the business in all categories,” said a Chanel spokeswoman.

In 2021, Chanel reported revenues of $15.6 billion, up 49.6% versus 2020. While the operating profit reached $5,461 million, with a remarkable increase of 170.6% compared to 2020. The 2022 annual report has not been closed yet.

In 2021, in terms of regional sales, Chanel's sales in Europe increased by 40.1% to $4.042 billion compared to 2020, although it still fell by nearly 11% compared to 2019. In the Asia-Pacific region, sales surged more than 53% to $8.068 billion, an increase of nearly 49% compared to 2019. Sales in the Americas market, including the US, also saw a significant increase of nearly 80% to $3.529 billion compared to 2020.