The Contour of Luxury Summer 2019 - Page 477

If there are any businesses the brothers are open to discussing with the press, it is their wine and their horse breeding and racing business because, as Alain said to a reporter for the New York Times Magazine, “…that’s PR…I will gladly speak to you, about the wine and horses, because we sell the brand value.” Why Chanel differs from this type of marketing is because, according to Alain for the New York Times Magazine again, “is it not useful for the Chanel business.” The Wertheimer brothers only discuss their businesses if they believe their input is necessary, adding to the intrigue of their taciturn ownership of one of the most profitable luxury beauty brands in the world. Apart from their businesses, the brothers live in a lavish fashion. Alain owns a luxurious apartment on Fifth Avenue in New York, and Gerard owns a sequestered, French-style mansion in Genova. They can often be found spending time at their Chateau Canon in France during the summer or shooting game at their Loire Valley chateau in France or skiing in the Swiss Alps at their chalet with their family.Alain and Gerard Wertheimer may be co-owners for the luxury brand Chanel, but at the end of the day, it is a family business, and they are persistent in keeping their family affairs concealed from spectators—an applaudable feat for notable, wealthy figures operating a globally-renowned luxury brand. Sources: bloomberg.com; thefashionlaw.com; businessinsider.com The New York Times Magazine