Chanel winning fight

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. Chanel unveiled its latest Cruise collection in Havana on Tuesday, in Cuba’s first major fashion show since the 1959 revolution.