Chanel is a luxury fashion house founded in 1910 by Coco Chanel in Paris. It is privately owned by the Wertheimer family and has been headquartered in London since 2018. Chanel specializes in women's ready-to-wear, luxury goods, and accessories and licenses its name and branding to Luxottica for eyewear. Chanel is well known for its No. 5 perfume and "Chanel Suit". Chanel is credited for revolutionizing haute couture and ready-to-wear by replacing structured, corseted silhouettes with more functional garments that women still found flattering.