I also think it’s a riff on Coco Chanel. It’s an insult to her wealth.
It’s not breakfast cereal.
Neither one is racist.
Either he misspelled her last name, which is a homonym of Chow, or it’s a hint about where a lot of the McConnells’ wealth came from, and it makes no difference to me either way. It’s a piddly matter.
Coco Chau makes sense.