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Luxury houses Chanel<\/strong><\/a> and Bruno Cucinelli<\/strong><\/a> announced that they have acquired a 24.5% minority stake in Cariaggi Lanificio<\/strong>, a historic wool yarn manufacturer and cashmere specialist based in Cagli, Italy<\/strong>.<\/p>\n <\/p>\n In 2022<\/strong>, Bruno Cucinelli had already acquired a 43%<\/strong> stake in Cariaggi for 15.05 million euros.<\/strong><\/p>\n <\/p>\n The agreement reached on Tuesday, May 23, provides for the transfer of 18.5%<\/strong> of its shares to Chanel, while the Cariaggi family has in turn transferred 6%<\/strong> of the capital.<\/p>\n <\/p>\n Thus, Chanel and Brunello Cucinelli now share 49%<\/strong> of the capital equally, or 24.5%<\/strong> each. The Cariaggi family remains in the majority with 51%.<\/strong><\/p>\n <\/p>\n The parties have signed a long-term pact<\/strong> to regulate the corporate governance of Cariaggi Lanificio. According to this agreement, the control and management of the company will remain in the hands of the Cariaggi family<\/strong>. The amount of the transaction was not disclosed.<\/p>\n <\/p>\n <\/p>\n Faced with production and supply chain challenges, luxury companies are taking initiatives to strengthen their security investments in their supply chains<\/strong> to meet the growing demand for luxury products.<\/a><\/p>\n <\/p>\n “Chanel is honored to strengthen its ties with Lanificio Cariaggi, with whom it has collaborated for many years, and also to do so with Brunello Cucinelli, whose values it shares”<\/em>, said Bruno Pavlovsky<\/strong>, Chanel’s President of Fashion.<\/p>\n <\/p>\n “The agreement we have reached represents a magnificent tiara that enhances the entire Italian supply chain, extremely pleased that a House of absolute excellence in global fashion like Chanel has chosen to invest in Made in Italy by sharing with us the beautiful Lanificio Cariaggi project”<\/em>, added Brunello Cucinelli<\/strong>, executive chairman and creative director of the Italian company.<\/p>\n <\/p>\n For the first time, Chanel, which holds stakes in some 40 factories, has partnered with another fashion brand for this type of operation. Over the past two years, the group has stepped up its actions by partnering with seven companies<\/strong>, including a majority stake in Italian knitwear and outerwear company Paima.<\/p>\n <\/p>\n On Tuesday, however, Brunello Cucinelli shares closed in the red (3.9%), at 79.75 euros per share.<\/strong><\/p>\n <\/p>\n <\/p>\n Read also >OTB fashion group acquires Italian leather goods manufacturer Frassineti<\/a><\/p>\nLong-standing collaboration<\/h2>\n