Chanel announced the acquisition of a 25% stake in Swiss high-end watchmaker MB&F to expand its watch business, though the specific transaction price was not disclosed. Chanel introduced its Première watch in 1987 and later acquired Swiss manufacturer G&F Châtelain in 1993 to begin investing in the watch sector, with previous investments including Bell & Ross, Romain Gauthier, and F.P. Journe. MB&F, founded by Maximilian Büsser in 2005 and headquartered in Geneva, Switzerland, brings together a team of watchmakers, artists, designers, and manufacturers. Founder Maximilian Büsser and partner Serge Kriknoff will retain 60% and 15% of the majority shares, respectively, and will continue to lead creative and overall management.