By acquiring 70% of the capital of its Italian partner Grey Mer, which has been manufacturing shoes for it for 13 years, Chanel is once again consolidating its supply chain. Is this a good move, first and foremost for the group or for the entire French and Italian luxury sector?
Chanel is setting foot in a new area: the Italian footwear industry.
The fashion house on rue Cambon recently confirmed a report by the Milanese newspaper MFF, namely the acquisition of a 70% stake in the shoe manufacturer Grey Mer, based in the Italian town of San Mauro Pascoli, in the Emilia-Romagna region.
The Alessandri family, who founded the company in 1980, retains 30% of the shares. Chanel, true to its tradition of minimal communication, has not disclosed the amount of the transaction.
Long-standing partner
“Since its creation almost 45 years ago by Luciano Alessandri, Grey Mer has developed exceptional expertise and has constantly innovated to meet the demands of its customers,” Chanel explained in a press release. In order to secure its production capacity, Chanel wanted to invest more actively alongside this trusted partner to write a new chapter in its history with it.”
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Read also > Chanel acquires stake in Leo France
Featured photo: © Chanel
