Armed Gang Robs Chanel Boutique in Paris

The Chanel outlet is one of many high-end jewelry stores in the Place Vendome neighborhood. BERTRAND GUAY AFP/File
The Chanel outlet is one of many high-end jewelry stores in the Place Vendome neighborhood. BERTRAND GUAY AFP/File
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Armed Gang Robs Chanel Boutique in Paris

The Chanel outlet is one of many high-end jewelry stores in the Place Vendome neighborhood. BERTRAND GUAY AFP/File
The Chanel outlet is one of many high-end jewelry stores in the Place Vendome neighborhood. BERTRAND GUAY AFP/File

An armed gang on Thursday robbed a Chanel watch and jewelry store near the swanky Place Vendome in central Paris in broad daylight, police told AFP.

Nobody was hurt during the heist, and there was no immediate indication of the bounty's value, AFP said.

Police said at least one of the four, who were all masked and wore helmets, carried an assault rifle, with a witness saying that the others also had automatic weapons.

They made their getaway on two motorbikes in a scene that was filmed by a bystander and widely shared on social media.

The clip shows three people dressed in black leaving the boutique while a fourth, carrying an assault rifle on a shoulder strap, waited on a motorcycle.

A witness, 26-year-old Anastasia Martino who works in a clothes store across from Chanel said she was on a cigarette break when she noticed "a man with a Kalashnikov on a motorbike", at around 2:30 pm (1230 GMT).

"Two minutes later, three other men left the boutique carrying big black bags. They, too, had automatic weapons, got on two motorbikes and left in a hurry."

Her colleague, 31-year-old Cyril Ngo, said the heist lasted a full 10 minutes. "These weren't professionals," he said.

The Chanel shop is located on Rue de La Paix, close to Place Vendome, an area with a high concentration of luxury jewelry stores.

Police cordoned off the area shortly after the robbery, and the store was shuttered.

Chanel, founded in 1910 by Coco Chanel, is one of France's leading fashion houses, selling haute couture and ready-to-wear clothes, perfumes, accessories and other luxury items.



Italian Fashion House Valentino Suffers 22% Profit Drop in 2024

A picture shows bags in the shop window of Italian fashion house Valentino at Piazza di Spagna in central Rome, on November 11, 2024. (Photo by Alberto PIZZOLI / AFP)
A picture shows bags in the shop window of Italian fashion house Valentino at Piazza di Spagna in central Rome, on November 11, 2024. (Photo by Alberto PIZZOLI / AFP)
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Italian Fashion House Valentino Suffers 22% Profit Drop in 2024

A picture shows bags in the shop window of Italian fashion house Valentino at Piazza di Spagna in central Rome, on November 11, 2024. (Photo by Alberto PIZZOLI / AFP)
A picture shows bags in the shop window of Italian fashion house Valentino at Piazza di Spagna in central Rome, on November 11, 2024. (Photo by Alberto PIZZOLI / AFP)

Italian fashion house Valentino's operating profit dropped 22% last year, the company said on Friday, as the luxury sector faced a slowdown in global demand for high-end goods, particularly in Asia.
European luxury groups have been counting on wealthy Americans to kick-start growth as the outlook for China remained bleak. But after President Donald Trump's tariff policy, the sector is bracing for what could be its longest slump in years, Reuters said.
Valentino said one-off costs also drove its operating profit down to 246 million euros ($280 million) in 2024, as it continued investing in directly-managed stores.
Revenue fell 2% at constant exchange rates to 1.31 million euros, despite good sales in Japan, the Middle East and the Americas, the Rome-based company said.
It said online sales rose 5% compared to the previous year, in line with the group's aim to strengthen its e-commerce business.
"Our work has taken a decisive step with the arrival of Alessandro Michele as our new Creative Director," Chief Executive Jacopo Venturini said in a statement.
Valentino hired the former Gucci designer in March last year following the exit of creative director Pierpaolo Piccioli, who had been in the position for 25 years.
In 2023, Gucci owner Kering bought a 30% stake in Valentino with an option to buy the whole of the company's share capital by 2028.