SILK CUT: Because it prepares to indicate its cruise assortment on Italy’s Lake Como, Chanel has invested in a historic native silk producer as a part of its ongoing coverage of supporting long-term manufacturing companions.
Chanel confirmed Monday that it has acquired a minority stake in Como-based silk specialist Mantero Seta SpA for an undisclosed sum.
“This step is a pure extension of the historical past that has linked our two corporations for greater than 50 years, and demonstrates our shared need to strengthen Mantero’s growth potential in a extremely aggressive surroundings. Mantero will proceed to work with all its prospects, in accordance with Chanel’s technique in this sort of operation,” it stated in an announcement.
Franco Mantero, the corporate’s chief govt officer and the fourth era of the founding household, advised Italian monetary every day Il Sole 24 Ore that the French vogue home had purchased a 35 p.c stake.
Chanel has invested in additional than 15 of its Italian suppliers, together with leather-based items producers Renato Corti and Mabi, tannery Samanta and footwear specialist Ballin. In 2023, it partnered with Brunello Cucinelli to collectively spend money on cashmere provider Cariaggi Lanificio SpA.
Amongst its most up-to-date acquisitions are stakes in one other two Italian corporations: costume jewellery and metallic equipment maker Leo France and shoe producer Gray Mer.
