Chanel is outperforming Dior in the luxury market, according to Morgan Stanley channel checks with European wholesalers and retailers.
Industry sentiment improved modestly versus the previous quarter, driven by higher foot traffic, tourist activity and new spring‑summer collections.
Chanel’s growth stems from strong shoes, accessible bags and younger‑customer recruitment, taking market share from Dior, Miu Miu, Saint Laurent and Louis Vuitton.
Dior, led by Jonathan Anderson, improves perception but sales lag, with recovery uneven due to geopolitics, weak consumption and tourist flow issues.