Comments:

Don’t forget that FPJ did a CB Holland and holland version which is owned by the family that owns Chanel

 
 By: Mohannad (aka Riddler) : September 15th, 2018-01:13
Maybe the roots started from there

im Sure that is no coincidence with Holland & Holland

 
 By: ChristianDK : September 15th, 2018-01:51
If it where It all started - I don’t know. They all live in Geneva so maybe they are part of the same circles....?

It is a very clever move by FPJ.

 
 By: foversta : September 14th, 2018-13:24
It brings sustainability to the company.

Well done.

Fx


I really hope that it does, dear FX

 
 By: ChristianDK : September 14th, 2018-13:41
the kind, that you and I will appreciate smile.

best
Christian

I hope you are right! [nt]

 
 By: Spangles - Mr. Tabby : September 14th, 2018-15:47
No message body

Its looks like the same story as Greubel Forsey .

 
 By: Watchonthewrist : September 14th, 2018-14:08
Sell a few % but still stay independent 👍🏻

yes that is a good example also.

 
 By: ChristianDK : September 14th, 2018-14:11
but there is a future beyond the founders. As buyers of these products, we can only hope that the owners choose a good path for the brands... Our watches are going to be around for a long time.....

True when you think about the watchmaker will not be around anymore at some point .

 
 By: Watchonthewrist : September 15th, 2018-00:34
But i think FPJ will leave a Worthy and talented successor behind . He knows what he is doing

My thoughts also ....😉 [nt]

 
 By: ChristianDK : September 16th, 2018-01:11
No message body

Probably not at all comparable...

 
 By: vitalsigns : September 14th, 2018-14:37
But I had hoped Journe could have accomplished something akin to what Rolex did many years ago with the company held in trust and operated independently. Two vastly different companies and economic circumstances, of course...

Cheers,
John


I understand your feelings very well, John

 
 By: ChristianDK : September 14th, 2018-14:47
As it is a very pure model. But most of the watch brands have changed hands several times. Patek was sold to a dial manufacturer in the 30’ies. And that went pretty well. My guess is that FPJ will try to steer clear away from  the big groups because they are run like milk cows and he is a person who pays a lot of though to his legacy....

The info comes from a fan of the brand and not

 
 By: alex : September 14th, 2018-14:52
Journe so let’s wait and see.

In any event F.P. Journe was just a sharehlholder in his company, the biggest shareholder being a private Swiss businessman. Selling a stake to the owners of Chanel, seems like a good idea as the Wertheimer brothers seem to build value in the long term with their investments and not seek immediate gratification

there is a copy of the letter

 
 By: thomaspp : September 14th, 2018-15:01
that was sent to the employees floating around the internet...



Thank you

 
 By: ChristianDK : September 14th, 2018-21:29
As I unfortunately don’t speak French, I’m hoping some kind soul here can translate the important bits, please. Thank you 🙏 

Basically Journe indicates that since his children

 
 By: alex : September 15th, 2018-00:45
will probably not take over he has decided to insure the future of the company by letting Chanel into the capital as it is a company that shares the same values

Thank you, Alex :-)

 
 By: ChristianDK : September 15th, 2018-00:52
So pretty much what we guessed. I guess it is smart to do something while he is not too old and with his back against the wall and while the economy is still good.

I’m really glad

 
 By: GreatPilot@me.com : September 14th, 2018-16:44
I purchased my CB and Vagabondage II/III before this happened.  I have been a fan for about 3 years and love the brand, not that Chanel will hurt it by infusing money and help but I predict it will never be the “cool” company we love any longer...Jim

Jim - that’s EXACTLY how I feel too.

 
 By: Bounce781 : September 15th, 2018-03:35
This Chanel deal is good for FPJ the man, and possibly for the continuation of the brand after he retires.
BUT, the “romance” of the FPJ as a true artisan independent is a bit lost in my mind (silly - I know).

Will be interesting to see if there will be a trickle of ‘used’ watches hitting the Ebay or forums from previous owners now Changing their mind about the brand.

Having said all that - congrats Mr Journe on this! It speaks as a tribute to what he has managed to build

I honestly don’t see a reason for that

 
 By: Mohannad (aka Riddler) : September 15th, 2018-04:28
Selling only 20%. Doesn’t mean your not an artisanal independent
Richard mille has AP owning 20%
Same goes for GF with Richmont they own 20%

They are both very successful and stronger than before even
They maintain their ethos and philosophy

You are probably right, M!

 
 By: Bounce781 : September 15th, 2018-05:47
But I recall hearing an interview with Kari Voutainen on a podcast (KeepingTime, I think), and what he said really resonated with me.
He said (not a verbatim quote): “what I’ve always wanted as a watchmaker was to be independent. No partners, finance help, etc. just me and doing what I want”.

Whenever a bigger conglomerate “partners” with a small indie, a small piece of my mind thinks: Daniel Roth, Martin Braun, Roger Dubuis, Speake Marin, Gerald Genta... we’ve been down this road here before.

Please believe me: I wish FPJ all the success in the world! I hope this is a great deal for him. He has EARNED IT

But (similar to the others you mentioned) independence at 80% is not the same as 100% independence. At some point, “investors” may flex their muscle or offer suggestions for “direction” for the brand which may {exactly} not align with the original master’s vision.

Just my $0.02
😀

I agree with your last comment. This is a business deal, Chanel is an investor, and with that comes some level of influence. [nt]

 
 By: Jay (Eire) : September 15th, 2018-07:02
No message body

I don't know Mohannad. Chanel haven't invested in FPJ without expectation of return.

 
 By: Jay (Eire) : September 15th, 2018-07:01
Now that could be an expectation that they will receive a share of revenue equating to their ownership or that this 20% has bought Chanel some right to buy the entire company at a later point. Or something in between or something very different. No matter what the deal was it wasn't charity, and so at some point they will have a say in what goes on at FPJ.
I can buy into partnership with a larger company that shares a similar ethos as you say. And that may be very true. But this is a business deal and with business deals come difficult conversations.

Interesting choice of partner for FPJ

 
 By: AnthonyTsai : September 15th, 2018-10:25
I would have expected a different company but should still be good for Journe in the long run.

- AT

It's a deal between friends, apparently.

 
 By: Spangles - Mr. Tabby : September 15th, 2018-11:37
The best source on this so far:
thejourneguy.com

Chanel's owners are friends of Mr. Journe, they are silent partners and receive no dividends, and the money from the sale is reinvested entirely. It is a deal very favorable for FPJ, almost not making sense for Chanel, except as what it is, friends joining in FPJ's preservation. 

I was concerned until I read more into it.

Chanel has put out some interesting watches...

 
 By: jporos : September 15th, 2018-13:29
particularly the J12 series and particularly the J12 Marine. I think these watches are underrated. A partnership between Chanel and F.P. Journe could produce some very interesting watches...
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