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Beijing Business Daily (Reporter Lin Yuwei) On the evening of August 22, Beijing time, French luxury brand Chanel announced that it had purchased a 25% stake in Swiss high-end watchmaker MB&F. Frédéric Grangié, president of Chanel watches and high-end jewelry, said, "This cooperation is part of our long-term strategy to continue to protect, develop and invest in expertise and technology, and reaffirm our position in the high-end watchmaking industry."

Under the partnership agreement, MB&F founder Maximilian Büsser and his partner in the company, Serge Kriknoff, will retain a majority stake of 60% and 15% respectively, with Maximilian Büsser continuing to lead creative and general management matters.

MB&F stands for "Maximilian Büsser and Friends" and was founded by Maximilian Büsser in 2005 with the aim of providing dynamic sculptures for the wrist that can tell time. The brand's Legacy Machine Sequential Evo watch won the Golden Pointer Award at the Geneva Watchmaking Grand Prix, which is known as the Oscars of the watchmaking industry.