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Known for classic coutures like "the little black dress" and famed fragrance Chanel No. 5, Chanel has been a haute name in fashion and cosmetics for decades. It also creates watches (the J12) and jewelry and has a single license -- for eyewear with Luxottica. Founder Gabrielle "Coco" Chanel opened her first boutique in 1913, touting designs known for simplicity. Coco died in 1971, and Chanel's style stagnated for years until Karl Lagerfeld took over the designs and revived the label by tapping a younger market. The company has about 100 boutiques worldwide. Controlled by chairman Alain Wertheimer's family, Chanel also owns Eres and Paraffection, which bought iconic Robert Goossens in 2005.
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