Chanel has announced a 35 percent acquisition of silk producer Mantero Seta SpA, aiming to bolster its luxury offerings while preserving craftsmanship in Italy.
Chanel has announced its acquisition of a minority stake in the renowned silk producer Mantero Seta SpA, with the deal coming as the luxury fashion house prepares to showcase its cruise collection at Italy’s picturesque Lake Como. The financial details of the investment were not disclosed, but it is confirmed that Chanel has acquired a 35 percent stake in the Como-based company, according to Franco Mantero, chief executive officer and a member of the founding family.
In a statement regarding the acquisition, Chanel highlighted the long-standing relationship between the two companies, noting, “This step is a natural extension of the history that has linked our two companies for more than 50 years, and demonstrates our shared desire to strengthen Mantero’s development potential in a highly competitive environment.” The statement reassured stakeholders that Mantero will continue to serve all its customers, aligning with Chanel’s strategic approach to such investments.
The partnership reflects Chanel’s ongoing commitment to supporting its long-term manufacturing partners in Italy, a move that underscores the French fashion house’s dedication to craftsmanship and quality. Over the years, Chanel has strategically invested in more than 15 Italian suppliers, enhancing its supply chain with stakeholders such as Renato Corti and Mabi in leather goods, the Samanta tannery, and Ballin, a footwear specialist. In 2023, the company further expanded its investments by collaborating with Brunello Cucinelli to jointly invest in the cashmere supplier Cariaggi Lanificio SpA.
The acquisition of Mantero Seta SpA not only strengthens Chanel’s position in the luxury market but also supports the preservation of expertise in silk production. As the industry continues to evolve and face competitive pressures, Chanel’s investment signifies a proactive approach to ensure the sustainability and quality of materials used in its collections. Mantero Seta SpA, recognized for its rich heritage and craftsmanship, stands to benefit from this collaboration as it navigates a challenging market landscape.
Source: Noah Wire Services
