By  on January 7, 2019

PARIS — Bolstering its watchmaking firepower, Chanel continues to invest in watchmakers and said it is taking a stake in Kenissi, a Swiss-based maker of automatic timepiece movements.

The move fits the company’s strategy of seeking to offer high-quality casing and movements to its products, Chanel said in a statement, noting it kicked off this approach with the purchase of G&F Châtelain in 1993. Chanel did not reveal financial details of the transaction or indicate the amount of the stake.

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