Chanel buys Spanish leather goods firm Colomer

New York - The Parisian fashion firm has just closed the acquisition of 100 percent of the capital of the Spanish leather company Colomer (formerly known as Colomer Munmay, now Colomer Leather Group).

Experts from the textile market consulted by 'El Español' highlight the high quality of Colomer's finishes as their main competitive advantage, recalling that the company based in Vic, Barcelona, has led for many years the leather tanning market in Spain. According to the latest publicly available figures, the Colomer Group invoiced 38.5 million euros in 2017, that’s 5 percent less than the previous year. In 2017, the Spanish market accounted for 31 percent of sales, and the rest of the EU, 64 percent, reports 'Expansión'.

Chanel joins the board of directors of Colomer Leather Group

The purchase, whose value has not transcended, has been accompanied by changes in Colomer’s organisational chart. At the head of the board of directors of Colomer Leather Group now is Bruno Pavlosky, president of the fashion business of the Chanel group.

The acquisition of the Spanish tannery and leather specialist reinforces the policy of the French luxury giant to control their entire supply chain to strengthen its brand positioning and safeguard its leadership in the international luxury market.

It should be recalled that in the last five years, Chanel has embarked on a series of strategic acquisitions such as the French tannery specialising in sheep skin , the Bodin Joyeux tannery in December 2013 and the manufacturer of Gallic gloves Gausse in 2012.

Chanel results confirm the success of their new supply strategy

The results of Chanel - made public last January for the first time in 108 years - prove the success of the new strategic direction of the fashion house created by Coco Chanel.

In an interview with the ‘New York Times’ in January, Chanel CFO Philippe Blondiaux explained both his policy of strengthening his supply chain and his decision to publish the company’s business figures: "We realised that it was time to put the facts on the table as to exactly who we are: a 10 billion dollrs company with very strong finances, plus all the means and ammunition at our disposal to remain independent."

Thus, Chanel's total sales during the past fiscal year were 962,000 million dollars, 11 percent more than the previous year in constant currency. This growth was driven mainly by sales in the Asia-Pacific region and Europe, while operating profits reached 269,000 million dollars.

 

Related news

MORE NEWS

 

LATEST JOBS

 

MOST READ