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In 1986, the House of Chanel struck a deal with watchmakers and in 1987, the first Chanel watch debuted. By the end of the decade, Alain moved the offices to New York City. [9] Maison de Chanel increased the Wertheimer family fortune to US$5 billion.
Chanel wanted to spread the sale of Chanel No. 5 from beyond her boutiques to the rest of the world. The first new market was New York City. The initial marketing was discreet and deliberately restricted. The first ad appeared in The New York Times on 16 December 1924.
The chain of stores was founded in 1948 but could trace its history as far back as 1922 or 1908, when the original lumber company that preceded it was founded. At its peak Channel operated stores in nine states, and did business in the Philadelphia and New York metropolitan areas.
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The mall was anchored by Dior and Chanel, with a Fifth Avenue mix of shops such as H&M, Zara, and Sephora below them. [11] Due to the COVID-19 pandemic in New York City, many of the stores closed, including Neiman Marcus, the Citarella Gourmet Market, Banana Republic, and Sephora. [12]
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