Objective: To inform my audience on the career and financial obstacles of Gabrielle “Coco” Chanel.
a) Born on August 19,1833 in Saumur France.
b) Raised by nuns in an orphanage where she learned to sew.
c) In her early 20’s, Chanel became involved with Etienne Balsan, the man who would help her finance her dream to become a milliner (a person who makes or sells women’s hats).
“My fortune is built on that old jersey that I’d put on because it was cold in Deauville.”
2. Beginning of an era
a) 1910- Chanel opened her first shop in Paris’s Rue Cambon selling hates.
b) A few years later she opened stores in Deauville and Biarritz and began making clothes.
3. Chanel No. 5
a) The first fragrance by Chanel was developed in 1922.
b) In 1924, Pierre Wertheimer financed and founded Parfums Chanel.
4. History of Chanel
a) Net Worth of the Company- $1.5 billion
b) Chairman- Alain Wertheimer
c) Conflicts between the Wertheimer family and Coco Chanel.
5. Chanel is no longer Chanel’s
a) 1954- Chanel returned to Paris after fleeing to Switzerland after WWII with desires of restarting her business and reconciling with The Wertheimer family.
b) Pierre agreed to finance her plan but under one condition- he would own all rights to the Chanel name for all its products, not just perfumes.
Quote from Chanel’s attorney, Rene de Chambran-
“Pierre returned to Paris full of pride and excitement [after one of his horses won the 1956 English Derby]. He rushed to Coco, expecting congratulations and praise. But she refused to kiss him. She resented him, you see, all her life.”
c) 1965- After Pierre’s passing, Jacques Wertheimer took control of the company. He had very little interest in the company and seemed more concerned with the family’s racing stables and horse breeding operations.
d) 1974- Jacques’s 25 year old son, Alain Wertheimer gained control of Chanel.
6. How Alain Wertheimer saved Chanel