Chanel is looking to strengthen its position in the watchmaking market. The French fashion house has acquired a 20 percent stake in Kenissi, a Swiss company making small timepiece parts, Reuters reports. Kenissi joins a number of other watch companies in Chanel’s investment portfolio, which also includes Bell & Ross, Romain Gauthier, G&F Chatelain and F.P. Journe.
The first Chanel watches featuring Kenissi parts will be showcased at trade fair Baselworld, set to take place in March.