In 1924, Pierre Wertheimer partnered Coco Chanel in her perfume business and founded Perfumes Chanel. He owned 70%, Coco owned 10%, and his friend Theophilus Bader 20%. Chanel initially agreed to owning such a small amount, since she was not famous at that time and her perfums business very small anyway.'Coco' Chanel rose to become one of the premier fashion designers in Paris, France. Replacing the corset with comfort and casual elegance, her fashion themes included simple suits and dresses, women's trousers, costume jewelry, perfume and textiles.In 1922 Coco Chanel introduced a perfume, Chanel No. 5, which became and remained popular, and remains a profitable product of Chanel's company. The Wertheimers continue to control the perfume company today.
