Chanel’s President of Watches and Fine Jewelry, Frédéric Grangié, recently spoke about the brand’s groundbreaking new store in Place Vendôme, celebrating Chanel’s 90th anniversary. This unique super-boutique aims to revolutionize the way fine jewelry and watches are presented, showcasing the brand’s commitment to craftsmanship and creativity.

Grangié, along with renowned architect Peter Marino, brought a fresh perspective to the design of the store, incorporating lavish elements like hammered bronze gates, crystal chandeliers, and exquisite artwork. With an estimated cost of €30 million, the 18, Place Vendôme boutique is considered one of the most luxurious stores ever built.

While Chanel does not disclose specific sales figures, industry experts estimate that Grangié’s division generates around $1.5 billion in revenue. The new store is not simply a place to purchase Chanel’s jewelry and watches, but rather a destination that offers a unique and personalized experience for clients. Remote sales and a focus on showcasing Chanel’s creations ensure that customers feel valued and connected to the brand.

In an interview with Fashion Network, Grangié emphasized the historical significance of Place Vendôme for Chanel, as it was where Coco Chanel herself lived and worked. Recreating 18, Place Vendôme was an important step in honoring this heritage and solidifying Chanel’s commitment to fine jewelry. Grangié also discussed his passion for the industry, drawing from his previous experience at Louis Vuitton and embracing the intersection of retail analysis and creative expression.

Managing a division in the luxury sector comes with its own set of challenges, and Grangié is focused on sustaining growth and expanding Chanel’s presence in the industry. He recognizes Tiffany as a fierce competitor and highlights the importance of creating a strong brand equity. Chanel’s iconic collections, such as the Comet and Lion, embody the brand’s DNA and continue to captivate customers worldwide.

Looking ahead, Grangié is optimistic about the future of Chanel’s fine jewelry and watch division. He is actively involved in guiding the creative process and collaborating with designers to perfect their designs. As Chanel aims to elevate its status as a top player in the industry, Grangié draws inspiration from iconic brands like Rolex and Porsche, who have mastered the art of excellence and timelessness.

In conclusion, Chanel’s new experiential super-boutique in Place Vendôme stands as a testament to the brand’s unwavering dedication to fine jewelry and watches. With Frédéric Grangié leading the way, Chanel’s watch and fine jewelry division is poised for continued success and growth in the luxury market.

Useful links:

1. Chanel Watches and Fine Jewelry
2. Place Vendôme Boutique