The New Patek Philippe Twenty~4 7340/1R Perpetual Calendar

Introduced in 1999, the Twenty~4 collection was Patek Philippe’s first dedicated line of feminine timepieces. The original model featured an Art Deco-inspired manchette (cuff) design, but in 2018, the brand unveiled the Twenty~4 Automatic, which is a round-cased iteration powered by an automatic movement. This year, Patek Philippe elevates the collection further by introducing a perpetual calendar complication, marking the collection's debut in the realm of Grand Complications.
Crafted entirely in 18K rose gold, the watch features a 36mm case with a slender profile of just 9.95mm, making it sit gracefully on the wrist. The case is meticulously finished with a combination of polished and brushed surfaces, enhancing its refined aesthetic. Two dial options are available. The Ref. 7340/1R-001 features a silvery opaline dial with a vertical satin finish, evoking the texture of shantung silk that feature irregular texture, while the Ref. 7340/1R-010 presents an olive green sunburst dial for a more contemporary appeal.

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News Chanel Acquires 25% Stake in MB&F

The French Luxury Group Continues Its Strategy of Investing in Independent Watchmaking Brands

ByWaqt

22.08.2024

3 minutes read

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MB&F, the independent high-end watchmaking brand, has announced a significant partnership with Chanel, with the French luxury group acquiring a 25% stake in MB&F. Founder Maximilian Büsser retains a 60% stake in the company, while his partner Serge Kriknoff, who leads R&D and production, holds 15%. Alongside Charris Yadigaroglou (Head of Marketing Communications) and Thibault Verdonckt (Head of Sales), Büsser and Kriknoff will continue to guide MB&F.

Chanel, the renowned fashion and perfume house that entered the watchmaking sector in 1987, has consistently invested in luxury independent watch brands. In 2018, Chanel acquired a 20% stake in F.P. Journe, following earlier investments in Bell & Ross in 1998 and Romain Gauthier in 2011. Chanel also purchased high-end parts maker Kenissi in 2019. Chanel has expressed its commitment to these partnerships, stating that such investments are "part of the desire to preserve and develop expertise and to support independent watchmakers who share Chanel’s values of creativity and excellence."

Chanel’s minority stake provides MB&F with stability and resilience through a strategic shareholder aligned with their values, ensuring the continuation of MB&F’s long-term vision.

Maximilian Büsser shared his thoughts on the partnership: “With the management team in its prime and the current favorable context, it was our responsibility to take this significant step towards securing our future. As we approach our 20th anniversary, this evolution allows us to continue our independent journey, free from growth pressures. Chanel’s investment will also enhance our operations by offering access to their extensive ecosystem and specialized supplier network when needed.”

Frédéric Grangié, President of Chanel Watches & Fine Jewellery, added: “We are thrilled to form a strategic partnership with MB&F, a brand that shares our values of independence, creativity, and excellence. This announcement reflects Chanel’s long-term strategy to preserve, nurture, and invest in exceptional know-how, further solidifying our position in high-end watchmaking.”

Max, with whom we had an interesting meeting, discussed his beginnings with the company and his journey in the field of watchmaking. Video link, Podcast link.

2024

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