Chanel’s acquisition of a 25 percent stake in independent watchmaker MB&F (Maximilian Büsser & Friends, founded in 2005) marks a continuing trend in Swiss watchmaking. This is not about big brands muscling in on small ones nor the forging of group identities and strategies. Chanel does call its investment “strategic,” and it is no doubt taken with the long view in mind. Chanel, a luxury behemoth that needs little introduction, calls MB&F a “high-end creative watchmaker,” which is a fine acknowledgment of what the watchmaking brand has become. Brand founder Max Büsser always emphasised that the Friends were the watchmakers, with his input being on the creative and business sides. We feel confident in saying this Chanel move was orchestrated by Büsser, perhaps in much the same way that he assembles the titular Friends when he dreams up a new watch.
Indeed, when the news dropped into our inboxes here, we remembered that Chanel had been part of the story since the beginning. Casemaker GF Chatelain was one of the first few Friends, making cases and buckles for MB&F; Chanel bought GF Chatelain in 1993 and it continues to play a part in MB&F production today (mainly in buckles, according to MB&F). The history here is clear then, and Chanel’s habit of taking stakes in small independents such as Romain Gauthier (2011) and FP Journe (2018) makes this story feel very palatable. The luxury brand has not intruded on the independence of these watchmakers and we do not expect things to be any different at MB&F.
Of course, questions will remain about Büsser’s aims but we can only report on what is known, best summarised here in a quote from the man, issued in the presser for this news. “It was our responsibility, in today’s very favorable 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.”
The press release notes that Büsser remains the majority MB&F shareholder, at 60 percent, while his partner Serge Kriknoc owns 15 percent. Büsser and Kriknoc were previously the only acknowledged stakeholders in the firm; Kriknoc’s share remains unchanged leading us to presume that Chanel’s stake was carved out of Büsser’s. Chanel’s track record shows that business will continue as usual at MB&F, and we will take Büsser at his word that the firm is much more than a vehicle for merely maximising returns. The beloved kinetic machines of loving time will keep right on ticking, just as Romain Gauthier and FP Journe’s watches do. It is worth noting that Chanel is also a major shareholder in Bell & Ross, and that the company’s executives have always maintained that the French firm has never pressured them about growth. For his part, Büsser has always maintained that he never wanted financiers or money men in the picture because of this pressure for growth, and he has directly addressed that point in the official release.
What does Chanel say about all this? Here is Frédéric Grangié, President of Chanel Watches & Fine Jewellery, on the news: “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.”
MB&F retails in Singapore exclusively via The Hourglass
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