Chanel buys stake in F.P. Journe parent company
In this article (4)
International fashion brand Chanel has acquired a 20 per cent stake in the parent company of luxury Swiss watch brand F P Journe.
The investment, the value of which has not been disclosed, follows the purchase of holdings in Romain Gauthier several years ago and Bell & Ross back in 1998.
A statement by Chanel read that the purchase “is part of the desire to preserve and develop expertise and to support independent watchmakers who share the same values of creation and excellence as Chanel”.
The sale, according to parent, watchmaker Francois-Paul Journe, was made to preserve the brand given that the watch manufacturing business would not be continued by his descendants.
Questions & Answers
Q.What is Chanel's stated reason for investing in the F.P. Journe parent company?
What is Chanel's stated reason for investing in the F.P. Journe parent company?
Chanel stated the purchase is part of their desire to preserve and develop expertise. They also aim to support independent watchmakers who share their values of creation and excellence, according to their statement.
Q.Has Chanel made similar investments in other watch brands previously?
Has Chanel made similar investments in other watch brands previously?
Yes, Chanel has made similar investments before. They purchased holdings in Romain Gauthier several years ago and acquired a stake in Bell & Ross back in 1998.
Q.What was Francois-Paul Journe's motivation for selling a stake in his company?
What was Francois-Paul Journe's motivation for selling a stake in his company?
Watchmaker Francois-Paul Journe sold the stake to preserve the brand. He noted that his descendants would not be continuing the watch manufacturing business, prompting the sale.
Reader pulse
Is this a smart move for Chanel?
20,928 votes so far