A new financial deal has been engaging Italian leather industry and French high-end luxury. In fact, LVMH have joined Masoni Industria Conciaria’s capital assets. LVMH Métiers d’Art have bought out a minority share of the tannery based in Santa Croce sull’ Arno. They formally signed the agreement on Thursday 19 December. This is one more partnership, the umpteenth one, between a high fashion holding and Italy’s leather supply industry.
The deal
“With this partnership deal – they announced in a press release – LVMH Métiers d’Art commit to supporting Masoni tannery while pledging long-term investments”. Such commitment is going to rest upon the aim “to reinforce artisan creativity and innovation, entrepreneurial strength and business development on an international scale”. While liaising with suppliers, the French group, led by Bernard Arnault, is therefore carrying out “a worldwide sustainable development strategy, in order to make sure its fashion houses get access to quality raw materials”.
An upcoming expansion
LVMH have joined Masoni’s capital assets while signing an agreement that enables the group to upgrade the occupational standards. “The aim of Fabrizio Masoni, company founder – announced the Tuscan tannery – is to implement a productive cooperation with a business partner he has been close to for a long while, thanks to a deep mutual respect. Masoni will keep leading the company as president of the board of directors and managing director. Marco Pessi, Federica Martini and two representatives of LVMH Métiers d’Art will be the tannery board members.
In the picture, Fabrizio Masoni and Hugues Pichon (LVMH Métiers d’Art)
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