Chanel, the renowned luxury Parisian brand, has taken a bold step in the watch market by acquiring a stake in Swiss watch movement manufacturer Kenissi. This strategic move, following Chanel’s recent investment in Geneva-based brand F.P. Journe, underscores the brand’s dedication to expanding its presence in the prestigious watch industry.
While the financial details of Chanel’s investment in Kenissi are undisclosed, the brand has emphasized that this partnership aims to elevate the quality and artistry of its watch creations. Building on its long history of strategic investments in watchmaking, starting with the acquisition of G&F Châtelain in 1993, Chanel seeks to integrate top-notch watch calibers from Kenissi into its timepieces.
Kenissi, known for producing robust and dependable automatic movements, is poised for growth as it plans to move to a new facility in Locle in 2021. Chanel has also teased an upcoming watch creation at the Baselworld international watch industry show in March, featuring an automatic movement crafted by Kenissi.
By acquiring a “minority” share in F.P. Journe last year, Chanel further showcased its interest in high-end watch manufacturing. F.P. Journe, a prestigious Geneva brand with a limited annual production of only 900 watches, perfectly aligns with Chanel’s ethos of investing in exceptional craftsmanship and artisanal expertise.
With a revenue of $9.6 billion in 2017 and strong financial backing from the Wertheimer brothers, Chanel is well-positioned to make strategic moves in the luxury market. Through partnerships with Kenissi and F.P. Journe, Chanel is solidifying its position as a prominent player in the world of luxury watches, blending heritage, innovation, and superior craftsmanship in its timepieces.
For more information on Chanel’s foray into the watch industry, you can visit Chanel’s official website. To explore the exquisite timepieces crafted by F.P. Journe, check out their collection at F.P. Journe’s website.
