Apparently, the need for high-end cashmere makes for strange bedfellows. Or manufacturers. Under a recent agreement, Chanel and Brunello Cucinelli agreed to each take 24.5% stakes in Cariaggi Lanificio, a maker of lux level wool and cashmere. As part of the deal, Cucinelli will sell some of its stake in the fiber company to Chanel. The Cariaggi family will retain the majority stake – 51%.
Those in-the-know about the Cucinelli brand recognize it for its luxe fabrics, particularly cashmere, as well as its hallmark monili embellishment. It is and always has been stealth luxury, long before it began trending this year. Not surprisingly, Gwyneth Paltrow’s ensembles at the Park City, Utah trial included pieces from Cucinelli.
Over the years, Chanel has invested or purchased many of its suppliers and Cariaggi has long provided the Maison with yarn for knitwear. According to statement from Chanel President Bruno Pavlovsky,
“Chanel is honored to strengthen its bond with the Lanificio Cariaggi, with which it has been collaborating for many years, and to do so, moreover, with Brunello Cucinelli, whose values it shares. The preservation of know-how, the commitment to exceptional quality and the sustainability of the products are common priorities for both. That is why, through this partnership in Italy, a place of utmost importance for Chanel, we have decided to associate our two Maisons to help preserve the exceptional cashmere and natural fiber supply chain, of which Lanificio Cariaggi is the recognized leader.”
https://www.breakinglatest.news/business/chanel-alongside-cucinelli-in-cariaggi-yarns-acquired-24-5/
Are you surprised to hear that Chanel and Cucinelli use the same wool and cashmere maker? Or that they will be in business together?
Image courtesy: IG@cariaggi_lanificio
- Maura Carlin posted 2 years ago
- last edited 2 years ago
