Chanel has taken a minority stake in Montres Journe SA, which owns haute horology brand F.P. Journe.
F.P. Journe, which limits production to 900 timepieces a year, will retain its independence and exclusivity of its designs.
The move, said a press release by Chanel, “will enable Montres Journe SA to continue its development by ensuring its sustainability, as well as its autonomy”.
The expansion highlights the fashion powerhouse’s increased interest in expanding its watch portfolio. Chanel had already taken stakes in Bell & Ross in 1998, and in Romain Gauthier in 2011.
Chanel has also been busy flexing its own in-house watchmaking muscle. The maison has launched an in-house calibre every year since 2016. The latest, Calibre 3, launched this year at Baselworld, is a sleek skeletonised movement housed inside a transparent Boy.Friend watch.