FRANCE: Hermès buys d'Annonay tannery to protect supplies
Hermès Cuirs Précieux, the tannery division of Hermès International, has taken control of its long-standing supplier, the Tannerie d'Annonay.
The value of the transaction has not been disclosed.
The French luxury brand said the acquisition was "part of a strategy to preserve and develop sources of supply and the expertise which they represent."
Located in Annonay in south-east France, the Tannerie d'Annonay has an 8,000 square metre manufacturing site and employs 80 staff. Best known for its Grison brand, more than 70% of the company's turnover is accounted for by exports.
Hermès' tannery division generated a turnover of EUR63m (US$84m) in 2011, an increase of 47% on the previous year.
It purchases, tans, dyes and finishes exotic skins and hides used in a multitude of products including leather goods, shoes, belts and clothing.
- SOURCING: Production problems weigh on Pakistan
- What next for smart fabrics and garments?
- Cutting-edge companies focus on consumer needs
- Smart sportswear faces mass production challenges
- Rana Plaza fund call grows as anniversary nears
- Major Ethiopia textile build experiences delays
- Cambodia labour abuse claims disputed
- “Unsafe” Bangladesh factory refuses to evacuate
- Garment factory tool to improve communication
- RFID adoption among retailers near “tipping point”
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of swimwear - forecasts to 2019