Chanel is having a first punt at sports sponsorship as it becomes the official partner of the historic Oxford-Cambridge boat race. The French luxury fashion house will make waves at the 2025 inter-university event as it is rebranded as ‘The Chanel J12 Boat Race’. The J12 is one of Chanel’s line of watches, retailing between €5,800 and €27,500. Chanel has signed a contract to be the official name sponsor of the race until at least 2029. It takes over from Gemini, the American cryptocurrency company founded by the Winklevoss brothers that filed for bankruptcy this year. “The long-term partnershi…