Chanel has bought a 25 percent stake in high-end Swiss watchmaker MB&F, known for its extravagant watch designs, the French luxury house announced on Thursday, adding that it was part of its strategy to increase its presence in watchmaking.
MB&F has built a reputation for producing small series of watches inspired by retro-futuristic and science fiction themes, as well as animals such as jellyfish and frogs.
Terms of the deal were not disclosed. The Geneva-based company, which was created in 2005, had annual sales of 45.4 million Swiss francs in 2023, when it made 419 watches and 3,500 watches of its cheaper MAD Editions brand, which sell for about 3,000 Swiss francs ($3,500).
Its most exclusive watches sell for between 60,000 and 200,000 Swiss francs and there are often waiting lists of up to two years. Chanel makes watches in addition to its perfume and fashion lines, and has previously acquired stakes in other Swiss watchmakers, including Romain Gauthier and FP Journe.
“We are delighted to sign a strategic partnership with MB&F, which shares the same values of independence, creativity and excellence,” said Chanel Watches & Fine Jewellery President Frederic Grangie.
Under the deal, MB&F founder Maximilan Buesser will own 60 percent of the company and his business partner Serge Kriknoff, who is the company’s head of R&D and production, will own 15 percent.
Buesser said the deal would secure the long-term future of the company, which employs 59 people. Chanel does not have an option to acquire a majority stake in MB&F.
“In addition to allowing us to pursue our independent path, free from any pressure on growth, Chanel’s investment will strengthen our operations by giving us access, when needed, to its broader ecosystem and network of specialized suppliers,” Buesser said.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.