Chagrins is a beautiful, literary word for 'sorrows' or 'griefs'. It's more poetic and carries a deeper weight than the more common word tristesse (sadness).
In the song, Carla Bruni sings the haunting line, "Que de nos chagrins il s'en fait des manteaux" (That out of our sorrows, he makes coats). This metaphor describes Time as a cruel figure who literally wears human grief. It's a powerful and unique image that perfectly captures the song's melancholic mood.
Carla Bruni kicks off this song with a pretty bleak outlook on life. She's been told that life is short and meaningless, that "nos vies ne valent pas grand-chose" [our lives aren't worth much], and that they fade "comme fanent les roses" [like wilting roses]. Time is a cruel thief, and fate just makes fun of us. It's a very French, very philosophical sigh of a song... at first.
But then, a little piece of gossip changes everything. Amidst all this doom and gloom, she reveals, "Pourtant quelqu'un m'a dit / Que tu m'aimais encore" [Yet someone told me / That you still loved me]. This one rumor is enough to make her question all the negativity. The funny thing is, she can't even remember who told her! She admits, "Je ne me souviens plus, c'était tard dans la nuit" [I don't remember anymore, it was late at night]. The song beautifully balances on this single, fragile hope. Is it real, or just something she wants to believe?