French luxury brand Chanel has announced the acquisition of a 25% stake in Swiss watchmaker MB&F, Reuters has reported.
The investment marks Chanel’s latest move to bolster its position in the watchmaking industry.
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MB&F, established in 2005, produces a limited series of watches with designs influenced by science fiction and animals such as jellyfish and frogs.
In 2023, the watchmaker reported sales of SFr45.4m ($53.3m) from producing 419 high-end timepieces and 3,500 watches under its more affordable MAD Editions brand.
The exclusive watches, priced between SFr60,000 and SFr200,000, are so sought-after that they have waiting lists of up to two years.
The terms of Chanel’s investment in MB&F have not been disclosed.
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By GlobalDataBefore the acquisition of MB&F, Chanel had purchased stakes in other Swiss watchmakers Romain Gauthier and FP Journe.
Chanel Watches & Fine Jewellery president Frederic Grangie was quoted by the news agency: “We are delighted to sign a strategic partnership with MB&F, who share the same values of independence, creativity and excellence.”
Post-acquisition, MB&F’s founder Maximilian Buesser will retain a 60% ownership, while his business partner Serge Kriknoff, head of research and development and production at MB&F, will hold a 15% stake.
The partnership will ensure the long-term future of MB&F and its 59 employees.
“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,” Buesser stated.
