Chanel goes platinum

Chanel is building on its watch business, with platinum its latest addition.

The platinum-case watches with grosgrain straps will retail between $4,400 and $5,300, and will be in stores in November.

“Our watch business has been excellent,” said Holli Perone, executive director of watches for Chanel Inc. “It’s probably the fastest-growing division at Chanel.”

Chanel introduced watches in 1987, and now has 14 styles, including a diamond watch. The collection retails from $1,375 to $45,000, with the bulk of the watches at $2,000 to $10,000.

In addition to being sold in all of the firm’s 11 U.S. boutiques, the collection is offered in 25 department store doors and jewelry stores. Perone said distribution will be limited to the addition of less than a dozen doors over the next few years.