Maybe you’ve never worn Chanel No. 5—but you know what it means to wear it. There’s only one fragrance that telegraphs sophistication as quickly as this rich floral scent, which debuted 100 years ago.

Designer Coco Chanel’s Chanel No. 5 — a perfume that changed the fragrance world forever — turns 100 this year, giving fans a new reason to rejoice in the most iconic of women’s luxury scents. In 1921 ...