Chanel Invest In Italy Printing Leather Business To Strengthen Leather Supply Chain

According to the Milan finance and economics report, after a year of negotiations, the French luxury goods company Chanel (Chanel), privately controlled by Alain Wertheimer and Gerard Wertheimer brothers, has finally obtained the majority stake in its printing and embossing leather supplier Conceria Samanta, and the amount of specific shares and financial details have not yet been disclosed.

Samanta, founded in 1974 by Attilio Gronchi, is located in Tuscany, Italy. It is famous for its unique leather printing, embossing technology and rare leather processing technology. After the death of Attilio Gronchi, Samanta is managed and operated by its sub Lacopo Gronchi and Azzurra Gronchi. The acquisition of Samanta will help Chanel further strengthen its leather supply chain.

Chanel said: "the luxury market and leather industry are growing rapidly, and Samanta's products have enjoyed a high reputation in the luxury goods industry. Samanta, which has unique leather printing and embossing technology, will provide professional help to Chanel and other partners, thereby further improving the Chanel industry chain. Samanta and Chanel share the same vision. This cooperation will further promote the development of leather industry. Samanta has many customer resources, and Samanta will continue to cooperate with them in the future, so as to achieve sustainable development of innovation.

In recent years, Chanel has adopted a series of acquisitions and investment measures to ensure a more stable and high-quality supply chain. In 2016 alone, Chanel invested four professional silk suppliers. In 2018, in order to further strengthen the leather supply chain and ensure the production and delivery capacity of high quality leather products, Chanel bought Spanish leather Tanner Colomer.

After announcing abandoning the use of rare leather at the end of last year, Chanel is also working hard to develop and invest in new fabrics and expand its supply chain. In late 2018, Chanel invested in Sulapac, a biodegradable material producer in Finland. In June of this year, Chanel invested in Evolved by Nature, a liquid silk producer.

Despite the sudden death of fashion designer Karl Lagerfeld, it has a certain impact on Chanel, but Chanel's performance last year is still excellent.

According to the financial data of Chanel 2018 fiscal year, Chanel net sales rose 13% to 11 billion 120 million US dollars compared with the same period last year, and net profit rose 16% to 2 billion 170 million US dollars compared with the same period last year. At the same time, the company's store expansion, product development and business acquisition investment doubled to 2017 US dollars in fiscal year 1 billion. In the future, Chanel will continue to increase investment. Chanel Philippe Blondiaux, chief financial officer, said: "in 2019, Chanel will continue to increase investment in store development, product development and business acquisitions, ensuring that it is no less than the level of $1 billion last year."