Chanel and Brunello Cucinelli’s Fashionable Investment in Cariaggi Lanificio — Retail Bum

Chanel and Brunello Cucinelli have joined forces in an unusual collaboration to secure a minority share in Cariaggi Lanificio, an Italian company renowned for its wool and cashmere manufacturing.

The two brands have agreed to acquire equal stakes of 24.5% each, while the Cariaggi family is expected to retain a majority ownership share of 51%.

Last year, Brunello Cucinelli bought a 43% stake in Cariaggi Lanificio, the brand’s primary cashmere supplier. Out of that 43%, Brunello Cucinelli will sell 18.5% of its stake to Chanel, which will acquire the remaining 6% from the Cariaggi family.

The two brands did not reveal additional details regarding the agreement.

“Preservation of know-how, commitment to exceptional quality and product sustainability are common priorities for both [Chanel and Brunello Cucinelli],” Bruno Pavlovsky, president of fashion at Chanel and president of Chanel SAS, said in a press release. “This is why, through this partnership in Italy, a place of the utmost importance for Chanel, we have decided to associate our two Houses to contribute to the preservation of a truly exceptional cashmere and natural fibers supply chain, of which Cariaggi Lanificio is a recognized leader.”