Italian luxury brand Brunello Cucinelli has recently acquired a 43% stake in Cariaggi Lanifico, a well-established spinning mill and the main supplier of cashmere for its signature knitwear products. The deal, valued at 15.05 million euros, was entirely funded through equity. Cariaggi Lanifico, located in Cagli, Italy, was founded in 1958 by the Cariaggi family, who currently hold a majority 57% stake in the company and will continue to manage its operations. The mill specializes in producing high-quality fibers, including cashmere and flax.

Brunello Cucinelli expressed great satisfaction with the completion of this acquisition, as it will allow the brand to further enhance the development of its exceptional products. The company highlighted its pleasure in partnering with Cariaggi Lanifico, a long-standing customer that shares their commitment to quality, service, innovation, and the well-being of their employees. Piergiorgio Cariaggi, the CEO of the spinning mill, also expressed his optimism about the acquisition, stating that it will contribute to the future growth and success of the company.

The decision to invest in Cariaggi Lanifico’s capital was driven by Brunello Cucinelli’s desire to support the Caprai family, a lifelong partner of the Cariaggi family, who wanted to sell their stake in the company. Additionally, the luxury brand recognized the importance of backing an outstanding Italian company. This marks the first time that Brunello Cucinelli directly enters the capital of an external company within their production chain.

Brunello Cucinelli expressed gratitude towards the Cariaggi and Caprai families for entrusting him at the beginning of his cashmere business. He praised Cariaggi Lanifico as one of the distinguished gems of Italian manufacturing, renowned for its superb quality and craftsmanship. He firmly believes that the mill should be acknowledged as one of the leading players in the global sector and as an integral part of the local territory and culture.

This recent acquisition by Brunello Cucinelli follows their previous purchase of Avenza Fashion’s male tailoring business in 2014, which enabled the brand to expand into the made-to-measure sector. By acquiring a stake in Cariaggi Lanifico, Brunello Cucinelli aims to directly support a vital part of its local production chain, following the strategies adopted by other prominent luxury players in the industry.

Useful links:
Brunello Cucinelli’s website
Cariaggi Lanifico’s website