Chanel further expanded its presence in the luxury watch market by acquiring a 25% stake in Swiss luxury watch manufacturer MB&F.
MB&F founder Maximilian Büsser will retain a 60% ownership interest, while head of R&D and production Serge Kryknow will hold a 15% stake.
Büsser said the investment will enable the brand to strengthen its operations and take advantage of Chanel’s watchmaking ecosystem and network of specialized suppliers.
“Given today’s very favorable circumstances and with a strong management team, it was our responsibility to take this major step to secure our long-term future,” Büsser added.
Founded in 2005, MB&F (short for Maximillian Busser and Friends) specializes in producing avant-garde timepieces.
The brand’s watches typically range in price from $70,000 to $236,000, and waiting lists can last up to two years.
The Geneva-based company reported sales of $53.3 million last year, from 419 luxury watches and 3,500 pieces of its more affordable “MAD Editions” label.
Frederic Grangé, president of Chanel’s watches and fine jewelry division, said the acquisition was part of a long-term strategy to protect, invest and develop the company’s position in the luxury watch market.
“We are pleased to enter into a strategic partnership with MB&F, with whom we share the same values of independence, creativity and excellence,” he concluded.
Chanel entered the watchmaking industry with the launch of its first watch and Paris boutique in 1987. The company acquired Swiss watch and jewelry manufacturer Châtelain in 1993, Bell & Ross in 1998, Romain Gauthier in 2011, and FP Journe in 2018.
