Chanel and Brunello Cucinelli, two renowned fashion houses, have recently announced their minority stake in the prestigious cashmere manufacturer, Cariaggi Lanificio Spa. In a strategic move, Brunello Cucinelli initially acquired a 43% stake in the esteemed cashmere production company in March 2022, investing approximately €15.05 million. A year later, Brunello Cucinelli proceeded to sell 18.5% of its shares to Chanel, while the Cariaggi family, the original founders of the workshop, also sold 6% to the fashion powerhouse. Consequently, Chanel and Brunello Cucinelli now hold an equal 49% stake in the company, with the Cariaggi family maintaining the majority share of 51%. Although the specific financial details of the transaction remain undisclosed, this partnership emphasizes the mutual interests of these luxury fashion brands in their respective production chains.
Craftsmanship preservation, exceptional quality, and sustainable production are all paramount priorities shared by both Chanel and Brunello Cucinelli, as stated by Bruno Pavlovsky, the President of Chanel SAS. Amidst the challenges faced by luxury brands in their production and supply chains, these companies are increasingly investing in securing their supply chains to meet the growing demand for luxury goods.
Remarkably, this collaboration with Cariaggi Lanificio Spa is Chanel’s first partnership with another fashion brand in this type of operation, despite already having stakes in approximately forty other manufactures. Over the past two years, the brand has expedited its investment strategy by collaborating with seven companies, including the acquisition of a majority stake in the Italian knitwear and outerwear company, Paima.
By joining forces with Cariaggi Lanificio Spa, Chanel and Brunello Cucinelli aim to consolidate their position in the cashmere industry and ensure the continuity of their supply chain. Both brands have a longstanding commitment to craftsmanship and quality, and through this alliance, they can further promote sustainable and responsible production practices. With the ever-increasing demand for luxury goods, it is imperative for luxury brands to secure their supply chains and uphold the highest standards of craftsmanship. Therefore, this partnership between Chanel and Brunello Cucinelli represents a significant stride towards accomplishing these objectives.
Useful links:
1. Chanel Official Website
2. Brunello Cucinelli Official Website
