Chanel, the renowned French luxury brand, has recently acquired a majority stake in Paima, an Italian knitwear business located near Ancona. Paima has experienced remarkable growth in recent years, making it an attractive investment opportunity for Chanel. Although the exact investment amount and stake size have not been disclosed, this partnership aims to provide support and promote the growth of the knitwear sector, which holds significant importance for both Chanel and the luxury industry as a whole.
Originally established as a knitting factory in 1963 by the Marabini family, Paima has combined technology and craftsmanship to create a modern and innovative structure over the years. The business produces knitwear for both men and women, utilizing various yarns including wool, cashmere, and cotton. Chanel recognizes the trailblazing nature of Paima, which has created a knitting ecosystem in a region that is not traditionally associated with knitting.
Chanel’s investment in Paima goes beyond expanding the business; it also aims to support the brand’s network of partners and provide training opportunities for young individuals in related skills. This acquisition is part of Chanel’s broader strategy of investing in Italian businesses. In the past two years, Chanel has acquired four other Italian companies, including Ballin, a footwear manufacturer, Conceria Gaiera Giovanni, a tannery, Vimar 1991, a fancy yarn manufacturer, and ‘Samanta’, a tannery. These acquisitions serve as a testament to Chanel’s commitment to supporting Italian craftsmanship and strengthening its presence in the country.
Alongside its investment activities, Chanel is actively preparing for upcoming fashion events. The brand is set to unveil its new ready-to-wear collection for summer 2022 at Paris Fashion Week this autumn. Additionally, Chanel has planned a trip to Dubai on November 2 to present its cruise collection for 2021/2022. This will mark Chanel’s second show in Dubai, following its initial presentation in 2014 for the 2014/2015 cruise collection.
Overall, Chanel’s partnership with Paima, along with its continued investments in Italian businesses, showcases the brand’s unwavering dedication to preserving craftsmanship and supporting the luxury industry. By collaborating with these companies, Chanel solidifies its position as a leader in the fashion world and ensures the longevity of traditional artisanal techniques.
Useful Links:
1. Chanel Official Website
2. Paima Official Website
