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Luxury brand Chanel buys Japan’s Colomer leather tannery

French luxury company Chanel has bought Spanish leather tannery Colomer. Colomer is joining Chanel’s portfolio to ensure the supply of leather, particularly for manufacturing of leather goods.

Colomer had undergone a restructuring process in recent times, leading to job losses and factory closures, after struggling to compete with low-cost rivals from other countries. Currently, Colomer has one tannery in Spain and five subsidiaries in its home market and one in Japan.

Last year, the company reported consolidated sales of €38.5 million, down five per cent on the previous year. The numbers are in stark contrast to Colomer’s performance in the past, with revenues reaching €113 million in 1997. It currently employs 218 people and exports 60 per cent of its leather.

Chanel’s revenue touché €8.3 billion in June while net profit was €1.5 billion. Chanel acquired its first tannery, a French company called Bodin-Joyeaux, in 2013, and in 2016 it acquired a majority stake in Megisserie Richard. The investment offered the opportunity to strengthen Chanel’s leather chain excellence, an ambition that has been confirmed again with the acquisition of the historic Spanish supplier. Known for haute couture, Chanel does clothes, fragrances, eyewear, jewelry, handbags and watches.

 

 
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