Chanel to Sponsor Oxford-Cambridge Boat Race

Chanel is set to sponsor “The Boat Race,” a rowing competition between Oxford and Cambridge that is the UK’s oldest major sporting event.

In what is Chanel’s first move into sports sponsorship, the French luxury house will become the event’s title sponsor and official timekeeper as part of a long-term partnership, according to a statement Tuesday.

The race between Oxford and Cambridge Universities is attended by over 250,000…