Lacemaking: Chanel acquires stake in Sophie Hallette
The Chanel fashion label has become a reference shareholder, though a minority one, of French lacemaker Sophie Hallette, a subsidiary of the Holesco group. Something to be proud of for the lacemaker, which was previously a 100% family company.
"We decided to join together in a partnership whose objective is to ensure the continued existence of the industry's historic heritage," explained Romain Lescroart. "We are proud of this partnership with Chanel, a label which is committed to the preservation of arts and crafts."
"The partnership's objective is to ensure the continued existence of the historic lace industry, the pride of the Calais and Caudry heritage," stated Chanel. "It also aims to keep an exceptional expertise inside France, together with the indispensable, two hundred year-old Leavers machines, which allow the creation of the highest quality branded lace, essential to meet the demands of high fashion and creativity."
The partnership was signed while uncertainty persists about the Codentel company's acquisition. The court must decide between the current managers' acquisition plan, that of Holesco, and that of Chinese company Yongsheng, which has delighted a few weeks ago in the acquisition of another local lacemaker, Desseilles Laces.
"Chanel's involvement provides solid support for our long-term future, whatever the outcome of the court ruling on Codentel's acquisition, which will eventually become the convergence point in our strategies," said Romain Lescroart.
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