Late last week news went public regarding Chanel acquiring a 20% share in Montres Journe SA, a brand well recognized among watch enthusiasts for it’s independence and complete vertical integration from manufacture to distribution. Whereas the first announcement was posted via Instagram, a more in-depth study can be read here.
Following is a translated excerpt from Journe’s statement to his staff, friends and collectors which was sent out Friday morning reassuring, in his words, why such a decision was made and how it is for the benefit of the brand’s future:
A question that is asked frequently, or all of the time, is what will become of F.P. Journe without me.
Today, without certainty that my children will pursue my endeavor, I have made the decision to safeguard my Manufacture with an alliance with CHANEL for 20% of the company’s equity.
This decision, made after careful consideration, results from a long standing friendship compounded by my profound admiration for the owners of this grand French enterprise.
We share the same values towards craftsmanship and excellence, and very importantly, our vision towards the future.
Although I remain majority shareholder, now I do so with the assurance that F.P. JOURNE’s legacy will live on perpetually.
I hope that by sharing this exciting news, the above question is no longer timely…”
To Journe, the true cost of independence and freedom is insuring his legacy lives on in the future.
*Featured image courtesy of Amanda Wong