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Chanel acquires a 25% stake in quirky, high-end Swiss watchmaker MB&F
- IBJ Bureau
- Aug 23, 2024
Chanel has bought a 25 per cent stake in high-end Swiss watchmaker MB&F, known for its quirky watch designs, the French luxury house has said. Chanel has added that the acquisition is a part of strategy to increase its presence in watch-making.
MB&F has built a reputation as a maker of small series of watches inspired by retro-futuristic and science-fiction themes as well as animals such as jelly fish and frogs.
The terms of the deal have not been disclosed.
The Geneva company, which was set up in 2005, had full-year sales of 45.4 million Swiss francs in 2023, when it made 419 timepieces and 3,500 watches of its cheaper MAD Editions brand, which sell for around 3,000 Swiss francs ($3,500).
Its more exclusive timepieces sell for between 60,000 and 200,000 Swiss francs and often have waiting lists of up to two years.
Chanel makes watches in addition to its perfume and fashion lines and has previously taken stakes in other Swiss watch-makers, including Romain Gauthier and FP Journe.
“We are delighted to sign a strategic partnership with MB&F who shares the same values of independence, creativity and excellence, President of Chanel Watches & Fine Jewellery Frederic Grangie said.
Following the deal, MB&F founder Maximilan Buesser will own 60 per cent of the company, and his business partner Serge Kriknoff, who is the company’s head of R&D and production, will own 15 per cent.
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