The French fashion house Chanel has acquired a majority stake in Gray Mer.
Chanel is said to have taken over 70 percent of the Italian shoe producer, reports Milan Economic newspaper MFF. The remaining 30 percent remain in the possession of the Alessandri founder family. A Chanel spokesman confirmed the participation at the request of fashionunited.
Gray Mer, founded in 1980 by Luciano Alessandri in San Mauro Pascoli, has been producing shoes for Studio Chanel’s collections for 13 years. Cooperation between Chanel and Gray Mer is a strategic step to strengthen the production capacities of the French fashion house. “Since it was founded almost 45 years ago by Luciano Alessandri, Gray Mer has built up an exceptional expertise and continuously operated innovations in order to meet the requirements of its customers,” said the fashion house. “In order to secure the production capacities, Chanel wanted to get involved in the side of this trustworthy partner to write a new chapter in his history together with him.”
The message is followed by a number of investments in the fashion house, including the shoe manufacturer Ballin and on the Florentine label Leo France Spa, a manufacturer of fashion jewelry and metal accessories. In addition, the Chanel owners, the Wertheimer Brothers and the Bettencourt family, have acquired a minority stake in the US fashion brand The Row, which is owned by the Olsen sisters.
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