For over a century, Chanel has produced luxury fashion, jewelry, watches, fragrances and beauty products, earning a reputation as one of the most renowned brands in the world. The fashion house begun in 1910 as a Parisian millinery run by Coco Chanel, creating simple, elegant hats for some of France's most famous actresses. The opening of Chanel's Deauville boutique three years later introduced a collection of leisure and sportswear for women, a successful venture which would enable the expansion of the brand into couture fashion. Having conquered the fashion world, Chanel released the iconic No5 eau de parfum in the 1920s - which today sells one bottle every minute worldwide - as well as her first make-up products. After a period of decline brought on by the war, the 1950s saw another surge of success for the brand alongside the first presentation of the infamous quilted leather handbag. Since its legendary founder's death in 1971, Chanel has continued to rule the fashion world under the creative guidance of designer Karl Lagerfeld.