Investment in Italian shoe producer is a natural move, Chanel says
Luxury brand Chanel has confirmed its acquisition of a majority stake in footwear manufacturer Grey Mer.
Based in the famous footwear-manufacturing town of San Mauro Pascoli in Emilia-Romagna in Italy, Grey Mer has been making high-end footwear for almost 45 years.
It has been working with Chanel for 13 years, producing shoe collections designed by the brand. Chanel said its partner company had built up “exceptional know-how” and was committed to ongoing innovation so as to be able to respond to the needs of its customers.
It said it had invested in Grey Mer “out of the need to guarantee its production capacity”. The footwear company’s founding family, the Alessandri family, will retain the remaining 30% of its capital.
“It is natural for Chanel to want to invest more actively alongside this trusted partner, so that we can write a new chapter in its history,” the luxury group said.
Chanel has been steadily investing in tanneries and finished product manufacturers in Italy and France for more than 10 years.
