Household Italian fashion brand Prada has confirmed that it has bought a French tannery near Limoges, about 400km south of Paris.
The trend is increasing for luxury brands and high-fashion houses to invest in companies within their supply chains to gain more control of efficiencies and preserve skills.
Explained in a statement, Prada's purchase of Tannerie Megisserie Hervy, which will be renamed Tannerie Limoges, is a joint venture (JV) with industrial partner of the maker of Miu Miu bags, Tuscan tannery Conceria Superior. Prada will also be controlling partner in the JV, and financial details of the deal were not revealed.
"It is a highly skilled manufacturer with precious know-how and a long tradition," Prada CEO Patrizio Bertelli said in the statement about the tannery, which specialises in lambskin tanning, in particular soft plonge nappa leather.