The Wertheimer family controls Chanel, the luxury house founded by Gabrielle “Coco” Chanel in 1910.
Chanel began with Coco Chanel’s millinery shop in Paris and grew into a major fashion, fragrance and beauty brand. The Wertheimer family became involved when brothers Pierre and Paul Wertheimer financed Chanel’s fragrance business in the 1920s, including the commercial development of Chanel No. 5.
The company remains privately held, so it is not listed on a public stock exchange. Alain and Gérard Wertheimer, grandsons of Pierre Wertheimer, are widely identified as Chanel’s owners. A common mix-up is treating “Chanel” as the family name; Chanel is the founder’s surname, while Wertheimer identifies the owning family.