1) A girl's name
. Not very common but still used.
2) A slang
term to refer to cocaine
. The term "Chloe" comes from the fact that cocaine also starts with an "C" and many other drugs use girls' names as slang for their respective drug
Chloe is sometimes used as a code word
for cocaine when referring to the drug in a public setting or over the phone where one does not want to openly discuss illegal activities.
Chloe is used like a person's name in such discussions. Like saying "When Chloe is around I am always happy" to indicate that when cocaine is readily available this person is always in a "happy" or euphoric