Chanel snaps up Spanish leather group
03/09/2018
As a result, Bruno Pavlosky, president of Chanel’s fashion business, is taking over as head of the board of directors of Colomer Leather Group.
The acquisition is the latest stage of Chanel’s efforts to take greater control over its supply chain in order to safeguard its position as a leading luxury brand. This has included the purchase of French lambskin tanneries Bodin Joyeux and Mégisserie Richard.
In June, Chanel made public its financial results for the first time in over 100 years. It reported revenue of $9.62 billion for 2017, 11% higher than in the previous year.
According to the most recent available figures, the Colomer group’s revenue for 2017 was €38.5 million, down 5% compared to the previous year. Its domestic market accounted for 31% of this, with the wider European Union taking a share of 64%.
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