- Prachi Singh
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French fashion house Chanel has acquired a majority stake in the Italian
tannery Samanta specialising in printed leather. The deal was signed after
almost a full year of negotiations, according newspaper Milano Finanza.
Financial details of the transaction were not made public by the company.
The development follows after the luxury firm acquired Spanish tannery
Colomer last September, Bodin-Joyeaux in 2013 and Megisserie Richard in
2016. With the purchase of Samanta, this is Chanel’s first acquisition in
Italy.
Founded by Attilio Gronchi, Samanta has been a long-time suppliers to
Chanel. The firm is known for its ability to create products with reptile
prints for clothing as well as acessories. Today, the company is jointly
run by Iacopo Gronchi his sister Azzurra.
In its recent statement announcing annual results, Chanel reported 10.5
percent rise in sales and 8 percent increase in operating profit to 11.1
billion dollars and 2,998 million dollars respectively.
Picture:Facebook/Chanel
