Chanel has acquired a 25 per cent stake in Swiss luxury watchmaker MB&F, further expanding its position in the high-end watch market.
MB&F’s founder, Maximilian Büsser, will retain a 60 per cent ownership, while Serge Kriknoff, head of research and development and production, will keep a 15 per cent stake.
Büsser said the investment will allow the brand to strengthen its operations and utilize Chanel’s ecosystem of watchmaking and network of specialized suppliers.
“It was our responsibility, in today’s very favorable context and with our management team in its prime, to take this major step to ensure our long-term future,” added Büsser.
Established in 2005, MB&F – which stands for Maximillian Busser and Friends – specializes in producing avant-garde watches.
The brand’s timepieces are typically priced between US$70,000 to $236,000 and have waiting lists of up to two years.
Last year, the Genevan-based outfit reported sales of $53.3 million from 419 high-end timepieces and 3500 under its more accessible MAD Editions label.
Frédéric Grangié, president of watches and fine jewelry for Chanel, said the acquisition is part of the company’s long-term strategy to preserve, invest, and develop its position in the high-end watch market.
“We are delighted to sign a strategic partnership with MB&F, who share the same values of independence, creativity and excellence,” he concluded.
Chanel entered watchmaking in 1987 by launching its first timepiece and a dedicated boutique in Paris. The company bought Swiss watch and jewelry makers Châtelain in 1993, Bell and Ross in 1998, Romain Gauthier in 2011, and FP Journe in 2018.
