Richemont Group has recently acquired a 100% stake in the Italian supplier back in August, as confirmed to FashionNetwork by Serapian, following reports of the deal by MF Fashion and TextilWirtschaft. The purchase amount has not been disclosed, and a managing director will soon be appointed.
The founding Serapian family is no longer a stakeholder, but will continue to fill key roles in the company. Giovanni Nodari, in charge of all business operations, is Ardavast Serapian’s nephew, the son of founder Stefano.
Richemont has had a relationship with Serapian for a long time, going back to 1970s and 80s, when the Milanese firm was a leather supplier to Cartier and Dunhill, two brands owned by the Swiss giant, alongside Jaeger-LeCoultre, Piaget, Lancel, Chloé and Azzedine Alaia.
“The group has been able to assess their production quality; an extremely rare and exceptional expertise in the working of leather. The acquisition strategy will consist of developing the firm, using it across the group’s own portfolio, and of course, supplying to outside luxury brands,” communications director Maxime Bohé told FashionNetwork.com.
The Serapian name is known most for its expertise in exotic skins, and that will continue to play an important role. The other axis of development: bespoke items, one of the house’s classic functions, which was especially a key segment between the 1960s and the 1980s.
All collections are made in Italy in a Milanese atelier on via Jommelli – which consists of a laboratory, as well as a store and headquarters — and in a factory in Varese, on the outskirts of Milan.
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