Chanel Bought Italy Printing Leather Factory Samanta With Majority Interest.

According to Fashion Network, quoted by Italy media Milano Finanza, after a year long acquisition negotiations, Chanel has bought the majority stake in Italy printing leather factory Samanta. Chanel has increased its investment in the supply chain since 2018, and the acquisition will further strengthen Chanel's advanced leather supply chain. Chanel did not disclose the relevant amount and details of the acquisition, nor did it disclose the specific share of the equity acquisition.

Samanta printing leather factory was founded in the 70s of last century. It is a family business. The founder of the leather factory, Attilio Gronchi, died in 2013 and was run by its son Azzurra Gronchi. Samanta factory is near Italy's Midwest City pizza, and is a global leader in leather manufacturing. The factory is good at printing and relief leather making, which is very important for Chanel.

Chanel announced last year that it will no longer use animal skins such as crocodile skin, lizard skin and snakeskin. Its future luxury will depend on the creation of skilled craftsmen and designers within their capabilities.

In a public statement, Chanel stressed that "Samanta's professionalism and technology will bring real value to Chanel's business. Their exclusive expertise in the field of leather printing is complementary to the professionalism of our other partners. This is what Chanel group wants to support the development of tanneries.

"Chanel and Samanta have the same goals for this industry: the two sides will come together to play synergy between stakeholders in the leather industry. Consistent with Chanel's tanning business strategy, Samanta will continue to cooperate with its original customers. Maintaining multiple customers will ensure the sustainable development of the company's professionalism and creativity. "

Chanel's investment last year doubled over the previous year, spending over $1 billion to ensure its top position in the luxury industry. Among them, Chanel invested $234 million in the acquisition of external assets, including the $90 million purchase of the Spanish leather manufacturing plant Colomer leather group.

Chanel's chief financial officer, Philippe Blondiaux, told the women's daily Daily last month that Chanel will maintain this investment growth level in 2019 and 2020 to continue to consolidate Chanel's "Paraffection Department", which owns 27 professional manufacturing companies, including embroidery vendor Lesage, feather maker Lemari and cashmere expert Barry.

Chanel is currently owned by the Wertheimer brothers, which earned $11 billion 120 million in 2018, an increase of 10.5% over fixed exchange rates. In addition to increasing investment and supply chain links to seek environmentally friendly alternatives to leather goods, Chanel also disclosed to investors in June that the company promised to achieve direct use of renewable energy in operation by 2030.

In early June, Chanel acquired a minority stake in Evolved by Natur, a green chemical company. The Boston based company has a patent for "activating silk", which can produce silk products made from liquid silk and provide non-toxic chemical alternatives for products such as textiles, personal care and medical equipment.

In addition to Chanel, LVMH group is also expanding its supply chain in Italy. Foreign media reported that a spokesman for LVMH said that the group plans to expand the leather manufacturing plant near Florence, Italy, later this year, and the plant area will double. The number of employees is expected to increase from 150 to 300.