Italian luxury brand Brunello Cucinelli has sold a portion of its stake in the historic textile mill Cariaggi Lanifico to French luxury brand Chanel. The specific terms of the transaction have not been disclosed.
Through this deal, Chanel will acquire a total of 24.5% of Cariaggi Lanifico, with 18.5% coming from Brunello Cucinelli and the remaining 6% from the Cariaggi family.
As a result, the Cariaggi family will still hold a controlling stake of 51% in the company, while Brunello Cucinelli and Chanel will each hold 24.5%.
In March 2022, Brunello Cucinelli announced the acquisition …