At the time, Frédéric Grangié, the president of Chanel Watches & Jewelry, said in an interview with the French daily newspaper Le Figaro: “This announcement is part of our long-term strategy to continue preserving, developing and investing in specialized skills and expertise, reaffirming our position in high-end watchmaking.”
The strategy seems to be bearing fruit. Working with Les Cadraniers de Genève, a dial maker owned by F.P. Journe, Chanel produced a one-off 37-millimeter Chanel Boy.Friend wristwatch in stainless steel with a diamond-set bezel and an enameled dial featuring an image of a bejeweled Coco Chanel. It sold at a charity auction in December in New York for $220,250. For comparison, a 34.6-millimeter diamond-set Boy.Friend in steel is $10,350 on Chanel’s website.
“Chanel invests in métiers d’art and mechanical innovation because watchmaking, like high jewelry, continues to integrate highly innovative expertise,” said Corentin Quideau, an independent consultant and global jewelry brand strategist in Paris.
“Watchmaking at Chanel, like its haute couture division, operates as a structured niche,” he said. “It is an established division, designed not to create the occasional special piece for a one-off client, but to produce exceptional products as a purposeful and strategic direction.”
Leveraging Expertise
Since 2023, Louis Vuitton has elevated its own watch offerings with sophisticated timepieces at higher price points. “We want to value the savoir-faire of all our artisans throughout our collections,” Jean Arnault, the company’s director of watches, told The Times in 2023, when it introduced its revamped Tambour, starting at $18,000.
This year, a new model, the Louis Vuitton Tambour Convergence, powered by the new in-house automatic Caliber LFT MA01.01, was offered at significantly higher prices: the pink gold version at $33,500, and the platinum with diamonds at $60,500.
