PARIS • A special event tomorrow at Paris Men's Fashion Week will honour Karl Lagerfeld in the vast Grand Palais, scene of some of his greatest catwalk triumphs.

He deserves the accolade, with Chanel on Monday revealing that it clocked up sales of nearly US$11.1 billion (S$15.2 billion) in its final year under the late designer.

The notoriously secretive French brand, which has reported its results publicly only twice in its 109-year history, said sales rose more than 10 per cent last year.

Chanel's iconic creator - who had so dominated fashion that he was called the "Kaiser" - died of cancer in February, aged 85.

He worked until the end and despite his final illness, his creations "achieved double-digit growth with great performances in leather goods and ready-to-wear", the label said.

Profits rose to close to US$3 billion, with finance chief Philippe Blondiaux hailing "another strong year".

Chanel is regarded as one of the world's richest and most stable fashion brands, said to be worth in excess of US$20 billion. Only rival Paris house Louis Vuitton has more financial clout, although much of its profits come from its luggage and handbag business.

Chanel opened its books for the first time last year, showing that its owners Alain and Gerard Wertheimer were the fourth and fifth richest people in France, and among the 40 wealthiest on the planet.

AGENCE FRANCE-PRESSE