Chanel continues his shopping tour in Italy.
The French luxury fashion company takes over 35 percent of the Mantero Seta company, Chanel said on Tuesday. The step is a natural development of the over 50 years of cooperation and underlines the joint endeavor to further strengthen Mantero’s development potential in a highly competitive environment.
The family business, founded in Como in 1902, will continue to work with all existing customers – in accordance with Chanel’s strategy in such investments.
With more than a century of experience, the company has established itself internationally as an expert in the creation and manufacture of fabrics and accessories for the fashion and luxury industry and makes a significant contribution to strengthening the made in Italy and the worldwide recognition of the textile district around Lake Como. Last September, Mantero also took over 70 percent of Italian textile producer Maglificio Ites.
For Chanel, this is another strategic participation after a number of takeover, including the Venetian shoe manufacturer Ballin, the company Gray Mer, which also specializes in shoes, and the Florentine label Leo France Spa, known for high -quality fashion jewelry and metal accessories. In addition, the Chanel owners-the Wertheimer brothers-have acquired a minority stake in the US fashion brand The Row, which is owned by the Olsen sisters.
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