In a bid to secure their long-term future, the masters of watchmaking madness at MB&F have officially announced Chanel as a minority stakeholder.
Long have the fashion world and the watch world have intersected. The concept of the ‘fashion watch’ has changed significantly over the years, permitting modern designer and ‘non-watch’ brands to change their tune on the watch industry. Gone are the days of the branded novelty timepiece, slowly being replaced by informed and powerful horological works of art and engineering.
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Maximilian Büsser and his Friends, naturally, know a thing or two about horological works. Together with business partner Serge Kriknoff, they have remained at the forefront of haute horlogerie for nearly twenty years with the production of highly disruptive and cleverly designed ‘Horological Machines.’ This also allows them to realise that the industry is more dynamic than ever, which is why they have opted to partner with fashion juggernaut Chanel as a 25% minority stakeholder.
Chanel’s achievements in the watchmaking division are well-documented: From premiering the legendary ceramic J12 collection to owning a 50% stake in Tudor movement manufacturer Kenissi, Chanel has made significant steps to ensure their own long-term growth in watchmaking.
Through this partnership, they again expressed their desire to evolve and innovate in this arena, following previous minority stakes in F.P. Journe and Roman Gauthier. Investing in MB&F adds another reputable collective of master watchmakers to Chanel’s arsenal, permitting them to draw upon a wealth of knowledge that may have been inaccessible otherwise.
This doesn’t mean that Chanel is trying for a hostile takeover of these brands – in fact, far from it. As with F.P. Journe and Roman Gauthier, MB&F will remain independently run with Büsser’s 60% controlling stake in the company – Kriknoff owns 15% – and shared leadership with Head of Marketing Communications Charris Yadigaroglu and Head of Sales Thibault Verdonckt.
“It was our responsibility, in today’s very favourable context and with our management team in its prime, to take this major step to ensure our long-term future – a natural evolution for a company celebrating its 20th anniversary next year. 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”.
Maximilian Büsser, founder and CEO of MB&F
For MB&F, Chanel as a minority stakeholder signifies both a symbol of friendship and a significant level of mutual trust between the two companies; Where Chanel gets further watchmaking knowledge, MB&F maintains their operational freedom and gains a reliable, active, and stable shareholder whose investment in the company means more than just money.
“We are delighted to sign a strategic partnership with MB&F who share the same values of independence, creativity and excellence. The announcement is part of our long-term strategy to continue to preserve, develop and invest in specialist know-how and expertise, reaffirming our position in high-end watchmaking”.
Frédéric Grangié, President of Chanel Watches & Fine Jewellery
At the end of the day, Chanel once again presents itself as a trusted and growing force in the watch industry through its recent investment into MB&F. Having stakes in not one, but three insanely high-quality watchmakers, on top of half-ownership in a movement manufacturing company, sets the stage for Chanel to gradually integrate themselves as a household name in the upper echelon of horology. I can’t wait to see what the future holds for both them and MB&F going forward, as it’s undoubtedly going to be full of horological madness!
