Coco Chanel's Contract Renegotiation

Date: May 17, 1947 • Location: Paris, France

After renegotiating a contract with the makers of her signature perfume Chanel No. 5, Coco Chanel (pictured) received a share of wartime profits from its sale, making her one of the richest women in the world.

Chanel No. 5 is the first perfume launched by French couturier Gabrielle "Coco" Chanel in 1921. The scent formula for the fragrance was compounded by French-Russian chemist and perfumer Ernest Beaux. The design of its bottle has been an important part of the product's branding. Coco Chanel was the first face of the fragrance, appearing in the advertisement published by Harper's Bazaar in 1937.