SILK CUT: As it prepares to show its cruise collection on Italy’s Lake Como, Chanel has invested in a historic local silk producer as part of its ongoing policy of supporting long-term manufacturing partners.
Chanel confirmed Monday that it has acquired a minority stake in Como-based silk specialist Mantero Seta SpA for an undisclosed sum.
“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. Mantero will continue to work with all its customers, in accordance with Chanel’s strategy in this type of operation,” it said in a statement.
Franco Mantero, the company’s chief executive officer and the fourth generation of the founding family, told Italian financial daily Il Sole 24 Ore that the French fashion house had bought a 35 percent stake.
Chanel has invested in more than 15 of its Italian suppliers, including leather goods manufacturers Renato Corti and Mabi, tannery Samanta and footwear specialist Ballin. In 2023, it partnered with Brunello Cucinelli to jointly invest in cashmere supplier Cariaggi Lanificio SpA.
Among its most recent acquisitions are stakes in another two Italian companies: costume jewelry and metal accessories maker Leo France and shoe manufacturer Grey Mer.
