THE WAY CHANEL CREATES LONG-TERM VALUE IS BASED ON THREE PILLARS, ON WHICH THIS REPORT IS STRUCTURED: A CREATION-DRIVEN BRAND How CHANEL is building greater resilience to ensure creation is always possible. PAGE 15 A COMMITTED LUXURY LEADER How CHANEL is working toward building a more sustainable business model for luxury. PAGE 37 A HUMAN-DRIVEN COMPANY How CHANEL is empowering people, promoting self-accomplishment, and enabling working conditions that respect and enhance the potential of each individual. PAGE 49 Using our influence and our ability to think, we recognize we still need to progress toward act, and invest for the long term, CHANEL fully managing all our social and environmental believes that we can secure the brand’s future impacts. At every level of the company, there and contribute to shaping a better world is a clear commitment to engaging the human, for everyone. Our ambition is to engage on creative, and financial resources needed a journey toward exemplarity. While we are to effect long-term positive change. This proud of what we have achieved to date, commitment is made possible by CHANEL’s independent, private ownership structure.