Chanel has taken a 25% stake in MB&F, the high-end Swiss watch brand whose designs have been described as “unusual” and “quirky.”
MB&F’s creative director and CEO, Maximilian Büsser, remains its majority owner, with a 60% stake (down from his former 80%). Serge Kriknoff, head of R&D and production, now owns 15%.
Büsser and Kniknoff will continue to run the company, along with Charris Yadigaroglou, its head of marketing, and Thibault Verdonckt, its head of sales.
Financial terms of the Chanel purchase were not disclosed.
Büsser, 57, told Bloomberg that the investment will “make sure the company survives us.” The deal gives Chanel the right of first refusal on any future sales of shares in the watchmaker, which recorded $53 million in revenue in 2023, according to Bloomberg.
“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 specialized suppliers,” said Büsser in a statement.
He founded MB&F, which stands for Maximilian Büsser & Friends, in 2005, after working as director of rare timepieces at Harry Winston and marketing director for Jaeger-LeCoultre
This is not the first time Chanel has invested in a watch brand—it took minority stakes in Romain Gauthier in 2011 and F.P. Journe in 2018. Both brands remain independently run. Chanel has also had a stake in Diam Concept, a Paris-based lab-grown diamond producer that recently entered receivership.
Top: MB&F limited-edition sapphire HM8 Mark 2 Blue (photo courtesy of MB&F)
Follow JCK on Instagram: @jckmagazineFollow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine
