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Chanel Confirms Majority Stake in Knitwear Manufacturer Paima

Chanel's 2020/21 Cruise collection. Chanel.

The French luxury house has confirmed that it has acquired a majority stake in the Italian firm, which it has worked with for 25 years. The value of the transaction was not disclosed.

Chanel’s supplier investments range from interests in firms like Lemarié, Lesage and Massaro, which specialise in feathers and flowers, embroidery and footwear as well as Italian tannery Samanta, shoemaker Ballin and yarn manufacturer Vimar. Following the luxury house’s investment, Paima will continue to work with other luxury clients.

Chanel said its investment will enable Paima to train young craftsmen and strengthen its network of partners. The news was first reported in the French edition of Fashion Network.

Learn more:

Why Chanel Doesn’t Want to Change the Fashion System

The French luxury titan is doubling down on six shows per year and the Cruise extravaganzas pioneered by Karl Lagerfeld. Chanel’s Bruno Pavlovsky lays out the logic to Tim Blanks.

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