Chanel has decided it’s time to dive deeper into haute horlogerie.
The French fashion house just entered into a new partnership with MB&F, according to a statement shared Thursday. The financial terms of the agreement were not disclosed but Chanel has walked away with a 25 per cent stake in the independent watchmaker.
Founded by Maximilian Büsser in 2005, MB&F specialises in designing and crafting wildly imaginative, exclusive, and complicated timepieces. The boutique Genevan outfit routinely collaborates with artists, designers, and horologists—MB&F stands for Maximilian Büsser and Friends, in fact—to push the boundaries in watchmaking with avant-garde creations. Chanel is hoping that investing in MB&F will help safeguard that creativity and expertise.
“The announcement is part of our long-term strategy to continue to preserve, develop, and invest in specialist know-how and expertise,” Frédéric Grangié, president of Chanel watches & fine Jewellery, said in a statement.
Image courtesy of MB&F.
Chanel forayed into the watch world nearly 40 years ago, unveiling its first timepiece in 1987 and opening a dedicated watch boutique on Avenue Montaigne in Paris the same year. The maison acquired Swiss watch and jewellery manufacturer Châtelain in 1993, then invested in Bell & Ross in 1998, Romain Gauthier in 2011, and FP Journe in 2018. Chanel says it has created an ecosystem of watchmakers and suppliers, which remain independently run.
MB&F will also operate independently. Büsser has retained a majority, with a 60 per cent stake. His partner Serge Kriknoc also owns 15 percent. Büsser will continue to lead creation and general management of MB&F. The current leadership team will remain, too. The watchmaker currently has two boutiques (MAD Galleries) in Geneva and Dubai, plus four smaller store-within-stores (MAD Labs) in Paris, Taipei, Singapore, and Beverly Hills.
“It was our responsibility, in today’s very favourable context and with our management team in its prime, to take this major step to ensure our long-term future—a natural evolution for a company celebrating its 20th anniversary next year,” adds Büsser. “In addition to allowing us to pursue our independent path, free of any pressure on growth, the investment by Chanel will strengthen our operations by providing access when needed to their wider ecosystem and network of specialised suppliers.”
Wonder which watchmaker Chanel will snap up next?
