Fendi acquires knitwear supplier Maglificio Matisse
Luxury fashion house Fendi announced on Tuesday it has taken a majority stake in Italian knitwear maker, Maglificio Matisse, a key supplier of the LVMH-owned brand for over 15 years and others in the luxury industry.
Located in Sant'Egidio alla Vibrata, in the province of Teramo, part of the Abruzzo region, Maglificio Matisse is a historic knitwear producer that today blends traditional craftsmanship with innovative technology, encompassing all levels of the knitwear process as a fully vertical production company.
Maglificio Matisse first started working with brands like Fendi and Prada, in the early 2000s.
In a statement, Fendi acknowledged the acquisition as a further step in its commitment to 'Made in Italy' and its supply chain. It did not disclose how much the majority stake cost the company.
“Together with the openings of our Fendi factory in Tuscany for leather goods and in Marche for shoes, this acquisition marks another step of our maison toward its commitment to support Made-in-Italy and its supply chain,” said Fendi chairman and chief executive officer, Serge Brunschwig.
Founded in 1989 by Luigino Scarpantonii and his brothers and sister-in-law, Maglificio Matisse
will continue in the hands of its founders, including Scarpantonii's three children, following the acquisition.
Scarpantonii welcomed the Fendi investment, with his firm's production capacity to be strengthened by further investments from Fendi in the coming years.
"I am enthusiastic for the opportunity to be able to continue and further reinforce the strong collaboration built with Fendi through more than a decade now, and I can't wait to start this new path with my children by my side," said Scarpantonii.
The acquisition of the knitwear factory is the first time Fendi has taken on one of its suppliers. It follows Brunello Cucinelli's acquisition of its main cashmere supplier, Cariaggi Lanificio, taking a 43% stake in the company, back in March.
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