Chanel Takes a 25% Stake in Independent Watchmaker MB&F

Independent and creative high-end watchmaking is more than ever at the centre stage of the watch industry. The interest of collectors in such rare and exclusive watches, produced by small-scale companies and infused with the soul of their creators, has been on the rise for several years now. And as a consequence, large luxury groups have also started to show increasing interest in these companies, potentially highly profitable investments. Chanel, the French fashion powerhouse, has long been involved in indie watchmaking with minority stakes in Romain Gauthier (2011) and F.P. Journe (2018). It’s now time for MB&F to join its portfolio, and in return, for Max Büsser and his friends to secure the future of the company. 

In recent news, we have seen LVMH acquiring L’Epée 1839 (the clockmaker, close collaborator to MB&F, and responsible for most of the co-created clocks by the brand) but also reviving Daniel Roth, one of the most important names in independent watchmaking. Chanel, on its side, has been active in watchmaking for close to 4 decades. Chanel launched its own watchmaking structure in 1987, setting up a watch design studio on Place Vendôme in Paris and investing in G&F Châtelain Manufacture in La Chaux-de-Fonds in Switzerland, acquired by the group in 1993 – and now responsible for the assembly of watches for Chanel, but also Bell & Ross, which is partially owned by Chanel since 1998.

But that’s not all, as the Wertheimer family (mostly brothers Gérard and Alain, current owners of Chanel) also invested in Kenissi, a renowned movement manufacturer partially owned by Rolex and responsible for the manufacturing of calibres at Tudor. Chanel entered the share capital of Kenissi in 2019, which now supplies movements for several of the brand’s models, including the famous J12. These investments mostly strengthened the position and independence of Chanel as a watchmaker, but the French group also made several other investments in smaller-scale companies. In 2011, Chanel took a stake in Romain Gauthier, a highly respected watchmaker of the Vallée de Joux (who consulted for the conception of movements at Chanel, including for the Monsieur collection). In 2018, Chanel also announced taking a 20% stake in Geneva-based watchmaker F.P. Journe.

Now, Chanel and MB&F have just announced a partnership, as Chanel has taken a 25% stake in the independent high-end watchmaking brand. Founder Maximilian Büsser retains the majority of MB&F with 60%, while his partner in the company, Serge Kriknoff (Head of R&D & Production), owns 15%. No changes to report regarding the management of the company, as Max and Serge will continue to lead MB&F together with Charris Yadigaroglou (Head of Marketing Communications) and Thibault Verdonckt (Head of Sales).

From the words of Max Büsser, this stake will “ensure stability and resilience with a strong strategic shareholder.” Büsser adds that “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.” Born in 2005, MB&F – which stands for Maximilian Büsser and Friends – now is a large-scale independent watchmaker with about CHF 45 Million in revenues (2023) and 419 watches made that same year. In addition, the brand launched a parallel and more accessible venture in 2021 named M.A.D.Editions, which currently manufactures approximately 3,500 pieces per year.

On a final note, and looking at the brands in which Chanel is currently partnering (Gauthier and Journe), we can certainly expect MB&F to retain most of its independence with minimal involvement of Chanel in the creative process – which is reassuring, to say the least.