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