The Italian fashion house Brunello Cucinelli SpA has acquired a stake in an important supplier. On Monday, the company announced that it had acquired a 43 percent stake in cashmere yarn producer Cariaggi Lanificio SpA from the Cariaggi family, which owns it. The knitwear specialist put the purchase price at EUR 15.05 million. Control of the company and day-to-day management remain in the hands of the Cariaggi family, which now owns 57 percent of the shares, according to a statement.
According to Brunello Cucinelli, he has been planning to join Cariaggi Lanificio since the summer of 2020. For the clothing supplier, it is the first financial investment in another company. With the investment, the fashion house is strengthening the partnership between the two companies and their respective owner families, which has existed for more than fifty years, explained Brunello Cucinelli. In addition, the participation aims to support the Italian textile industry and its special values.