Business News: Chanel Takes Stake in Kross Manufacture
Chanel has acquired a 30% minority stake in Kross Manufacture, which is responsible for producing watches for Kross Studio and other clients. This investment aligns with Chanel's strategy of supporting independent watchmaking through minority investments rather than full acquisitions. The focus of this transaction is on enhancing Kross Manufacture's production capabilities, allowing it to maintain its agility in manufacturing small quantities of high-end watches while serving its diverse clientele. Kross Studio, established in 2020, is recognized for its innovative watch designs, including limited editions featuring popular franchises like Star Wars and Harry Potter. The creation of Kross Manufacture as a separate entity enables the studio to sell surplus manufacturing capacity, diversifying its revenue streams. This investment marks a significant step for both companies, as they collaborate on future projects, with more details expected to be revealed soon.
