The House of Chanel, more commonly known as Chanel (IPA: [ʃə.ˈnɛɫ]), is a Parisian fashion house in France founed by Coco Chanel (b.1883 - d.1971). According to Forbes, the privately held House of Chanel is jointly owned by Alain Wertheimer and Gerard Wertheimer who are the grandsons of the early (1924) Chanel partner Pierre Wertheimer.