Frédéric Grangié, the President of Chanel Watch and Fine Jewelry, recently discussed the brand’s new experiential super-boutique in Place Vendôme. He emphasized the importance of maintaining Chanel’s heritage while offering unique and new experiences to customers.
Grangié highlighted Coco Chanel’s groundbreaking approach to jewelry, which involved combining costume jewelry with fine stones. The new boutique at 18 Place Vendôme celebrates the 90th anniversary of Chanel’s revolutionary jewelry collection by presenting a fresh vision of how jewelry and fine watches can be showcased.
The renovation of the boutique took over a year to complete and exudes luxury. It features striking features such as hammered bronze gates and drawers, patchwork moon gold walls, crystal chandeliers, and captivating artworks created by renowned artists. Not only does the store display Chanel’s exquisite jewelry pieces, but it also provides a personalized and immersive shopping experience.
Grangié emphasized the role of technology in enhancing the customer experience. Interactive mirrors and screens are integrated into the boutique, allowing clients to have a personalized shopping experience remotely. Despite not having entered the world of e-commerce, Chanel aims to bring customers closer through these technological innovations.
The President also highlighted Chanel’s commitment to sustainability through its partnership with the Monaco Scientific Center. The brand is actively involved in the preservation of Mediterranean red coral, which is one of the two natural gems. Chanel’s goal is to support long-term research that extends beyond jewelry.
Grangié shared insights from his previous role at Louis Vuitton and stressed the significance of retail and market analysis in driving rapid business growth. While Chanel focuses on its creation and upholding brand equity, Grangié recognizes the challenges of sustaining growth and becoming a leading player in the industry.
Chanel’s distribution strategy includes its own boutiques, shared spaces with fashion boutiques, and wholesale sales through high-end watch retailers. Rather than focusing on competitors like Tiffany, Chanel prioritizes its own brand DNA, which is rooted in creation, femininity, and boldness.
Grangié mentioned iconic pieces in Chanel’s jewelry collection, such as the Comet and Lion designs, as well as the recent development of tweed-inspired jewelry that reflects the brand’s craftsmanship and ties to its fashion heritage.
When asked about the most expensive piece sold by Chanel, Grangié referred to a 13-million-euro necklace and a limited edition of fully transparent J-12 watches, each priced at around 1 million euros.
Throughout the interview, it is evident that Grangié’s role is not merely about providing directives, but also about guiding the creative process. He values ongoing conversations with Chanel’s jewelry designer and encourages innovation and excellence, drawing inspiration from iconic designs such as Porsche cars.
Overall, Chanel’s new experiential super-boutique in Place Vendôme exemplifies the brand’s dedication to innovation, luxury, and the preservation of its rich heritage. As Chanel continues to expand in the fine jewelry market, Grangié’s leadership and vision will play a critical role in shaping the brand’s future for the next three decades.
Useful links:
1. Chanel Fine Jewelry
2. Place Vendôme
