Chanel winning fight against luxury grey market, says executive

Havana

CHANEL, the world's second largest luxury brand, said on Monday its efforts to curb the grey market have been successful and are helping boost revenue in China despite weaker overall demand for luxury goods.

The company narrowed its price gaps between the United States, Europe and Asia last year to prevent smugglers buying goods in one region to re-sell to another in the grey market.

"We reduced quite a lot the parallel market, mainly in Asia, and we have double-digit growth in our …