Chanel has recently made an investment in the Cariaggi Lanificio spinning mill, a historic mill that has been supplying high-quality yarns to both Chanel and Brunello Cucinelli for their knitwear for many years. This collaboration follows a similar partnership in 2021, when Ermenegildo Zegna and Prada joined forces to acquire the Italian spinning mill Filati Biagioli Modesto, which specializes in cashmere production.

In 2022, Brunello Cucinelli took the first step in this joint venture by acquiring a 43% stake in Cariaggi Lanificio for €15.05 million. The mill’s founders, the Cariaggi family, retained the remaining 57% ownership. In the recent transaction, the family’s stake has decreased to 51%, with Chanel purchasing a 6% share and an additional 18.5% stake from Brunello Cucinelli. The exact financial details of the deals have not been disclosed. Chanel and Brunello Cucinelli announced a long-term agreement, with the Cariaggi family maintaining a majority control of 51%, while Chanel and Brunello Cucinelli would each hold a 24.5% stake in the company.

Piergiorgio Cariaggi, CEO of Cariaggi Lanificio, expressed his excitement about Chanel’s involvement, stating that it reinforces the mill’s position as a global leader in selecting and processing the finest yarns. Established in 1958, the mill has specialized in processing precious animal and vegetable fibers, including flax. In 2022, it achieved a turnover of €143 million, a 26% increase from the previous year.

Bruno Pavlovsky, Chanel’s President of Fashion, is thrilled with the agreement, as it strengthens their longstanding relationship with Cariaggi Lanificio and Brunello Cucinelli. Both Chanel and Brunello Cucinelli share a commitment to craftsmanship, exceptional quality, and sustainable production. Brunello Cucinelli also sees this partnership as a significant development for the entire Italian industry, showcasing the investment in Italian-made products by a globally esteemed fashion house like Chanel.

For luxury brands, having control over their supply chain has become increasingly important, particularly from a sustainability perspective. Collaborations like these are expected to continue as luxury brands strive for greater control over their production processes.

Useful links:
1. Cariaggi Lanificio
2. Chanel