Chanel Company was established by Parisian couturier Gabrielle "Coco" Chanel. Perfums Chanel is one of the products of the company that was found in 1924 by Pierre Wertheimer to produce and sell perfumes and beauty products. Wertheimer retained 70% of Parfums Chanel, whike Bader retained 20%, and Coco Chanel a modest 10%. Coco was forced to operate her couture business apart from Parfums Chanel. Chanel No. 5 was the first fragrance from Coco Chanel, and has been on sale continuously since its introduction in 1921. It has been described as "the world's most legendary fragrance", and remains the company's most famous perfume. The company estimates that a bottle is sold worldwide every 55 seconds.
Chanel's management idea is "back to basics". Coco Chanel wanted to create the most costly perfume in the world, attract people by its elegance and simple, and as such No. 5 relies heavily on jasmine. Her intention in launching the scent was to give women a perfume with the scent of a woman rather than the scent of a flower bouquet.
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