Chanel continues its acquisitions strategy and has bought a stake in three new suppliers. Specially, the company has acquired Italian leather good makers Renato Corti and Mabi, as well as French clothing manufacturer Grandis.
The group has bought a 40% stake in Renato Corti, that has leather factories in Florence and Milan. In Mabi, on the other hand, Chanel has also acquired a 40% stake. The company is specialized in high-end, handbag maker and has factories in Florence and San Daniele in Italy.
In Grandis, Chanel has bought a 34% stake. The company has twelve workshops in Frances specialized in tailoring, flou, lingerie, swimwear and leather. The three acquisitions represent an investment of 169 million dollars, according to WWD.
The president of fashion of Chanel, Bruno Pavloysky, stated that the investments are part of the company’s strategy to preserve traditional know-hows and bringing new specialized manufactures into its Paraffection subsidiary, which employs employs 5,000 people across thirty companies.
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