Gerard Wertheimer, a French billionaire businessman with offices in Geneva and New York City, was born on April 17, 1951. He co-owns Chanel with his brother Alain. Chanel was co-founded by his grandfather Pierre and Coco Chanel. Alain Wertheimer, the company’s CEO, oversaw the purchase of several non-Chanel trademarks, such as Eres Lingerie, Tanner Kroll saddles and leather products, and Holland & Holland, a British gunsmith.
The Wertheimer brothers are French citizens who own several acclaimed French vineyards, notably Château Rauzan-Ségla in Margaux and Château Canon in Saint-Emilion. The business, which Coco Chanel launched in 1910, has never been affected by the rivalry between the two corporations and is not reliant on outside funding to keep setting trends around the world. And despite having strong financial support, the Wertheimer family has continued to oversee the business for three generations.
Gerard Wertheimer Bio/Wiki
|Birth Name||Gérard Paul Philippe Wertheimer|
|Nick Name||Gerard Wertheimer|
|Age||72 years (as in 2023)|
|Sun Sign/Zodiac Sign||Taurus|
|Birth Place||Paris, France|
|Date of Birth||17 April 1951|
|Mother's Name||Eliane Fischer|
Marital Status, Wife and Children
|College/University||University of Paris|
Height, Weight, and Figure Measurements
|Height (Approx.)||5 feet 6 inches|
Extra Ordinary Features
|Race / Ethnicity||French|
Gerard was born into a Jewish family and is the son of Jacques Wertheimer and Eliane Fischer. He started with a wealthy lifestyle.
However, he also had excellent leadership and entrepreneurship qualities when he was young, and by utilizing those abilities, he went on to become one of the most well-known billionaires in the nation.
Gerard Wertheimer Personal Life
Gerard, who was raised in a wealthy family and is known to live a lavish lifestyle, is the owner of numerous properties and valuable assets. He engages in a variety of philanthropic endeavors and is open with the media.
Gerard’s father, Jacques, acquired all the shares of Chanel in 1971 and served as Chairman till 1974 until he reportedly passed away in 1996 at the age of 86.
Gérard and his brother own vineyards in France and Napa Valley, California. Additionally, both brothers run a significant Thoroughbred horse racing stable known in France as the Wertheimer et Frère partnership and in the United States as La Presle Farm for racing.
Gerard Wertheimer Controversies
After Karl Lagerfeld passed away in February of last year, there was renewed talk that the Wertheimer family, who own Chanel, might try to sell the company or go public. Instead of the 50 billion euros projected by some analysts, LVMH managers reportedly said that Chanel had a value closer to 100 billion euros during the Investor Day in Paris.
One of the most prominent French luxury houses in the world, Chanel, continues to create a mystique about itself, which undoubtedly adds to its allure. The two largest high-end and fashion corporations in the world, LVMH, and Kering, which are the owners of the top businesses in this industry, do not own Chanel.
After images of Kate Moss’ alleged drug binge created controversy, Chanel retreated from the model. The Wertheimer brothers also own highly regarded French vineyards like Rauzan-Segla in Margaux and Chateau Canon in Saint-Emilion.
Gerard Wertheimer Education
Gerard Wertheimer received his degree from the University of Paris.
After their father, Jacques, died in 1986, Gerard Wertheimer and his brother Alain received the Chanel estate. Gerard Wertheimer shares ownership of many French vineyards with his brother Alain, notably Rauzan-Ségla of Margaux and Canon of Saint-Emilion. He is an avid horseman as well, and he inherited the La Presle Farm, a thoroughbred horse racing stable in the US. The No. 5 de Chanel perfume, the Chanel Suit, and the “Little Black Dress” are all trademarks of the House of Chanel, which Gerard co-owns.
He has revolutionized the fashion industry, particularly for women. Chanel is now well-known among brand aficionados thanks to the enormous commercial, cultural, and financial success of his No. 5 perfume. Chanel is recognized for its portfolio of watches, fine jewellery, accessories, skincare items, makeup, and clothing in addition to its perfumes and apparel.
According to reports, Gerard Wertheimer and his brother Alain made donations to several nonprofits and groups that promote social and environmental concerns. The Game Conservancy Trust, Action Innocence, and an unnamed orphanage in Santo Domingo, Dominican Republic, run by Gerard’s wife Valerie are among the recipients; the gift quantities are unknown, but it is said that contributions are made in cash.
Additionally, he donates to La Fondacion Fas, a non-profit with a mission to assist anyone struggling with alcoholism, which has its headquarters in Geneva, Switzerland. It is unknown if Alain Wertheimer, Wertheimer’s brother, participates in the activities of the Pierre J Wertheimer Foundation, a non-profit private foundation with headquarters in New York that was founded in honor of Wertheimer’s late grandfather.
Kristen Stewart, Cate Blanchett, Audrey Tautou, Nicole Kidman, Gisele Bündchen, Lily-Rose Depp, Cindy Bruna, Romy Schonberger, Rianne van Rompaey, Sigrid Agren, and artist Pharrell Williams are just a few of the famous people who wear Chanel. With many stores and boutiques throughout the world, Chanel is a “giant” in the fashion industry thanks to its blend of notoriety and upscale luxury.
Chanel constantly adheres to two criteria to set itself apart from other fashion businesses in the capital market: never offering discounts and never selling on social media. The House is renowned for its straightforward yet elegant, traditional and contemporary style that combines items from the past with its powerful brand identification, such as tweed, and delicate touches, such as knotted bows and chains.
The brand’s motto, “Fashion can fade, but style forever,” is reinforced by this. Customers may recognize Chanel items even without seeing the emblem since they always have a consistent style, spirit, and quality. Chanel does not design its products in accordance with the newest trends.
Chanel first, never lowers prices. Chanel merely modifies prices in accordance with the market and does not alter the base price, unlike other high-end fashion labels like Prada, Versace, Valentino, or Burberry which all run seasonal discount campaigns to draw customers. This is how Chanel stands out in the luxury market.
In order to meet the needs of middle-class consumers and expand regions like Asia, Chanel created more affordable ranges. With 36 outlets in Japan, 15 in Korea, and 11 in China, Chanel nearly completely controls the market thanks to cheap ranges of cosmetics like lip balm, skincare, and makeup as well as accessories like eyeglasses and watches. Second, Chanel is not very active on social media.
The corporation has invested over a billion euros in online advertising campaigns and international expansion in recent years. Chanel, however, does not view online commerce as a sales channel, particularly for upscale clothing, accessories, jewellery, cosmetics, and watches. Alain claims that Chanel wishes to maintain the value of the brand while minimizing the phenomenon of fake and counterfeit goods.
Leena Nair, a former executive at Unilever, was announced as Chanel’s next global CEO on Tuesday. She will be located in London. Alain Wertheimer, the French billionaire who owns Chanel with his brother Gerard Wertheimer, will take on the position of worldwide executive chairman, the company announced in a statement.
Ms. Nair worked for the multinational consumer products corporation for 30 years, most recently serving as the executive committee member and head of human resources. Chanel, famous for its quilted purses, No. 5 perfume, and tweed suits, announced that Ms. Nair will join the company in January and added that the new hires would guarantee its “long-term prosperity as a private company.”
Gerard Wertheimer Net Worth
As of 2023, Gerard Wertheimer has a net worth of $43.2 Billion.
Chanel, the Parisian fashion and fragrance firm that creates Chanel No. 5 perfume, is under the management of Gerard Wertheimer and his brother Alain. The closely owned luxury goods company, which was established in 1910 by fashion designer Coco Chanel, had $15.6 billion in revenue in 2021.
Three vineyards and racehorses in France are among the other holdings of the billionaire, Gerard Wertheimer. With estimated assets of $11.8 billion apiece, Alain and Gérard Wertheimer are now the 6th and 7th wealthiest people in France according to Bloomberg’s 2014 ranking. Their holdings have increased by about $3 billion as a result. According to Bloomberg, “The Wertheimers’ wealth has climbed by 13 percent since January 2014, putting them among the world’s 100 richest people.”
L’Oréal heiress Liliane Bettencourt, LVMH CEO Bernard Arnault, Patrick Drahi, Serge Dassault, and Kering’s founder François Pinault are in front of them in France.
According to Bloomberg, the slowdown in China caused the combined assets of eight other billionaires from the luxury goods sector (Liliane Bettencourt, Bernard Arnault, François Pinault, Leonard Lauder, Giorgio Armani, Cheng Yu-tung, Ralph Lauren, and Johann Rupert) to fall by 11% over the same time period.
|Estimated Net Worth in 2023 (Approx)||$43.2 Billion|
|Estimated Net Worth in 2022 (Approx)||$25 Billion|
|Estimated Net Worth in 2021 (Approx)||$24 Billion|
|Estimated Net Worth in 2020 (Approx)||$21 Billion|
|Annual Salary||>$2 Billion|
Gerard Wertheimer Partners/Affairs
He is married to Valerie and has two children.
Valerie Wertheimer served as a former nurse and serves as President of Action Innocence, a Geneva, Switzerland-based non-profit organization that reportedly fights against child pornography on the internet. He, along with his wife, is also involved in activities related to opposing child pornography.
Gerard Wertheimer Height, Weight & Age
He stands around 5 feet and 6 inches tall and weighs around 70kgs. He’s a straight man with greying hair and dashing hazel eyes. He is 72 years old as of 2022.
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