After watching quietly from the sidelines for more than a century, Chanel is finally dipping its oar into the world of sports.

Last month, the French luxury house announced that it had become the titular sponsor and official timekeeper, with its J12 chronograph, for the Boat Race, the not-for-profit company that organizes the annual elite rowing contests between student athletes at Cambridge and Oxford universities.

It is the first time since Chanel’s founding in 1910 that it will be a sporting event’s official timekeeper (And, from now on, the event is to be known as the Chanel J12 Boat Race.) Neither entity would disclose the financial arrangement.

As two of the oldest sporting competitions in the world, the annual men’s and women’s rowing contests are famous for their time-honored traditions — such as the Presidents’ Challenge, held last month at Somerset House in London, in which the challenger (in this case, Oxford) called on the defending champion (Cambridge) to race on April 13.

Within the broader context of megadeals between leading luxury groups and international sporting events, the Boat Race appears quaint, and even a bit quirky. But charm is exactly what appealed to Chanel, said Frédéric Grangié, the president of Chanel watches and fine jewelry and an all-around sports enthusiast.

His first meeting with the Boat Race executives was June 10, the same date as the first men’s race, in 1829. He took that as an omen.