WWD has confirmed that Chanel has acquired a majority stake in knitwear specialist Paima, further consolidating the former’s Italian holdings. Details of the transaction were not disclosed. Chanel has long worked with Paima, so this just seemed like a practical investment to continue their partnership.
Paima has been a third-party manufacturer for luxury brands since its founding. Currently the company has around 300 employees and in 2019 they generated 30 million euros in revenue. Paima will continue working with all its luxury clients even after the Chanel investment. Chanel plans to continue its investments in specialty ateliers.
This is the fifth Italian company that Chanel has invested in over the last two years. Chanel has also invested in shoe manufacture Ballin, yarn manufacturer Vimar 1991, and tannery Samanta.