It’s news of today that Chanel bought a stake in Swiss high-end watchmaking supplier Kenissi and it will launch at Baselworld in March a new product featuring an automatic movement from the Swiss maker.
Following “The Fashion Law” “These are not remarkably novel developments for Chanel, as the ‘House That Coco Built’ began its acquisition spree several decades ago, after all, when it bought into Desrues, a button maker in 1984; Lesage, an embroidery company, in 2002; and Barrie, a Scotland-based cashmere manufacturer, in 2012. Chanel also owns feather specialist, Lemarie; hat maker, Maison Michel; the glove-maker Causse; and in one of its most recent acquisitions, it acquired a minority stake in French lacemaker Sophie Hallette’s parent company, Groupe Halesco.”
As Bruno Pavlovsky, President of Chanel Fashion, previously declared “Through these investments, Chanel is reaffirming its commitment to the long-term sustainability of a high-quality segment” .
This long standing strategy supports the strength of the Brand and helps creating strong fundamentals as well as aims at preserving the little, precious artisans maisons.
That’s authentic corporate social responsibility. And the greatest investment for a best-in-class brand