It is one of the most famous and one of the most elegant brands on the market today. It was announced that House of Chanel would be investing in silk specialists from Lyon, France. In total, four specialists will be invested in to provide extra expertise to ensure the future of their collections. The company hopes to invest more money into the upstream process. A reason this is being done is to maintain high-quality products, and with silk being a big part of their products, the company wants to have the best specialists working with their products.
Financial terms were not disclosed, but Chanel took the majority stake in three of the firms; Textiles Henri Lacroix, Les Moulinages de Riotord and Hugo Tag Ennoblissement.
Chanel was not done with the investing though. They also have plans to put in major investments into high-tech machinery, while bolstering their already sizeable staffing.
Each of the four companies invested in come with 15 to 49 employees, and the French government itself sponsors three. Since 1984, the company has brought in milliners, boot-makers and feather providers to add to their product line.
The company hopes to preserve and advance the expertise of the staff, and they believe the companies they are investing in will do that.
Silk making began in France roughly 500 years ago, under King Henry IV. He ordered a plantation of thousands of mulberries to be planted for the production of silkworms.
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