The Italian cashmere yarn manufacturer Cariaggi Lanificio SpA has gained another well-known fashion house as a minority shareholder. After the knitwear specialist Brunello Cucinelli SpA, the French luxury label Chanel has now also acquired a stake in the company.
Brunello Cucinelli announced a corresponding agreement between the three companies involved on Tuesday. The Italian clothing retailer, which acquired a 43 percent stake in Cariaggi Lanificio in spring 2023, sold an 18.5 percent stake in Chanel. At the same time, the French fashion house acquired a further six percent of the shares from the founding Cariaggi family.
After the transaction, the Cariaggi family continues to hold a 51 percent majority in the renowned cashmere processor. Chanel and Brunello Cucinelli now each hold 24.5 percent. Brunello Cucinelli said the three companies had also signed a long-term shareholder agreement that would give the founding family control of the company.