Chanel has acquired another factory in Italy

In times of crisis, it is better to be self-sufficient. Perhaps this is why Chanel seems determined to internalize its Italian supply chain with the acquisition of a majority stake in Grey Mer, a footwear company based in San Mauro Pascoli in Romagna. The company has a forty-five-year history and has been collaborating with Chanel for thirteen years, but it has also long produced for brands such as Saint Laurent and Agnona, as well as Louboutin and Roger Vivier – some of the best names on the market. Now, as many Italian companies are finding their lifeline in major foreign luxury groups that have been buying up factories at an increasing rate, it is clear why Chanel wanted to secure ownership of the company, taking it away from competitors and guaranteeing itself an increasingly solid production capacity. According to MF Fashion, the French maison has acquired 70% of Grey Mer, while the Alessandri family, the founding family, retains the remaining 30% and will manage the factory with greater security.

The acquisition adds a fourth luxury footwear manufacturing plant to Chanel's portfolio, as the company already owns three other footwear manufacturers in Italy: Roveda, in the province of Milan, acquired in 2000; Gensi Group, in Teramo, acquired in 2015; and Ballin, in the province of Venice, in 2020. However, the gradual acquisition of strategic names in Made in Italy has not stopped at footwear. Two years ago, Chanel acquired Mabi International, in Friuli, which has production facilities in the provinces of Padua and Florence. The brand also owns Renato Corti, another luxury leather goods company based in Milan. Additionally, Chanel holds both majority and minority stakes in the tanneries Gaiera and Samanta, as well as in other companies specializing in textile production and garment manufacturing. Before acquiring Grey Mer, the maison’s last officially announced investment was the purchase of a 20% stake in Leo France, a Florence-based company specializing in the production of metal accessories for the fashion industry.

More and more luxury groups are acquiring their own factories in Italy – just as more and more small and medium-sized enterprises in the country find themselves in need of being saved (the first word that comes to mind, more sincere even if perhaps inaccurate, would be "adopted") by large entities, often foreign, that can offer them a secure foothold on their platform. It is free market economics, and these operations save jobs but, above all, preserve a heritage that our country takes great pride in. Only recently have efforts been made to protect it, also thanks to the many initiatives of organizations like CNMI, which have been actively discussing the challenges facing the Italian supply chain. Alongside Altagamma, the Chamber has also been working on a series of tax relief policies and unemployment benefits. Recently, its directors met with Minister Urso, along with entrepreneurs such as Diego Della Valle, Renzo Rosso, and Gildo Zegna, to discuss the protection of Made in Italy, strategic alliances and partnerships, the training of new artisans, and how to introduce innovations such as AI into the supply chain to maintain its competitiveness. The solution does not seem simple, but the demand exists, and as long as it lasts, so will the business. But will Made in Italy one day be able to maintain its independence in the long run?