Chanel go shopping in the universe of high-end Swiss watchmaking. Through its Swiss subsidiary Chanel sarl, the double C house has acquired a 25% stake in the Swiss watch manufacturer MB&F, founded in 2005 by Maximilian Busser. The financial terms of the agreement were not disclosed, but in an official note the president of the French brand's watches and high jewelery division, Frédéric Grangié, described this move as part of a “long-term strategy to continue to preserve, develop and invest in specialist know-how and expertise” and thus reaffirm Chanel's positioning in fine watchmaking.
“We are pleased to sign a strategic partnership with MB&F which shares the same values of independence, creativity and excellence – commented Frédéric Grangié, president of Chanel Watches & Fine Jewellery – The announcement is part of our long-term strategy to continue to preserve, develop and invest in specialist know-how and expertise, raffirming our position in high-end watchmaking”.
As recently reported by Bloomberg, in 2023 MB&F produced 419 wristwatches and recorded sales of 45,4 million Swiss francs.
“It was our responsibility, in today's very favorable environment and with our management team at its peak, to accomplish this important step to secure our long-term future, a natural evolution for a company celebrating its 20th anniversary next year – said Maximilian Büsser, founder of MB&F – In addition to allowing us to pursue our independent path, free from any growth pressure, the investment of Chanel will strengthen our operations by providing access, when needed, to their broader ecosystem and network of specialized suppliers.”
This ad follows similar investments by Chanel into the high-end watch brands Romain Gauthier (2011) and FP Journe (2018), creating an expert ecosystem of watchmakers and component suppliers, which are independently managed.
