French luxury house Chanel announced a strategic merger with one of its suppliers, acquiring a majority stake in Italian shoemaker Ballin.
Founded in 1945 in Fiesso D’Artico, Ballin employs 200 people and subcontracts its products to several luxury houses while also marketing shoes under its own label.
The move comes after Chanel’s earlier purchase of the Italy-based Gaiera tannery in July, as the company safeguards and invests in its future craftsmanship.
“Chanel is one of Ballin’s main customers and this decision was motivated by converging interests: Ballin’s need to rely on a solid partner who can guarantee long-term visibility to the company and Chanel’s willingness to reinforce an essential supply chain for its business and that of luxury as a whole,” reported Pambianco News.
“The Paris-based maison and Ballin have been working together for many years and share the same corporate vision. This investment offers a more lasting framework of collaboration being part of the continuity of an already established relationship.” Ballin is expected to continue production for its other clients.
Chanel is strategically positioning itself as leading luxury brand with ownership of its supply chain, investing in small factories, artisans and techniques essential to making its high end products.
Chanel is due to present its new Métiers d’Art collection in December in France.
Read the full article here – fashionunited.uk