Chanel invests in Italian print leather merchants

After a year of negotiations, Chanel (Chanel), a French luxury goods company privately owned by the brothers Alain Wertheimer and Gerard Wertheimer, finally obtained a majority stake in its printed and embossed leather supplier Conceria Samanta, the amount of equity and finance Details have not been disclosed.

Founded in 1974 by Attilio Gronchi in Tuscany, Italy, Samanta is known for its unique leather prints, embossing techniques and rare leather processing techniques. After the death of Attilio Gronchi, Samanta was managed and operated by his sons Lacopo Gronchi and Azzurra Gronchi. The acquisition of Samanta will Coupon Codes help Chanel further strengthen its leather supply chain.

Chanel said: “The luxury market and the leather industry are growing rapidly. Samanta's products have always enjoyed a high reputation in the luxury goods industry. Samanta, with its unique leather printing and embossing technology, will provide professional assistance to Chanel and other partners to further improve Chanel's products. Industry chain. Samanta has the same vision as Chanel, and this cooperation will further drive the development of the leather industry. Samanta has many customer resources, and Samanta will continue to maintain cooperation with them in the future to achieve sustainable development."

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

Since the announcement of the abandonment of rare leather at the end of last year, Chanel has also worked hard to develop and invest in new fabrics and expand its supply chain. At the end of 2018, Chanel invested in Finnish biodegradable material producer Sulapac; in June this year, Chanel invested in liquid silk producer Evolved by Nature.

Despite the impact of the sudden death of fashion designer Karl Lagerfeld on Chanel, Chanel's performance last year was still outstanding.

According to Chanel's fiscal year 2018 financial data, Chanel's net sales rose 13% year-on-year to US$11.12 billion; net profit rose 16% year-on-year to US$2.17 billion. At the same time, the company's store expansion, product development and business M&A investment amount doubled to $1 billion in FY2017. In the future, Chanel will continue to increase investment. Chanel Chief Financial Officer Philippe Blondiaux said: "In 2019, Chanel will continue to increase investment in store expansion, product development and business mergers and acquisitions to ensure that it is not lower than last year's $1 billion."

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