Tannerie Mégisserie Hervy is an historical French leather tannery located in Isle, near Limoges

Tannerie Mégisserie Hervy is an historical French leather tannery located in Isle, near Limoges

Italian fashion house Prada has acquired Tannerie Mégisserie Hervy, an historical French leather tannery located in Isle, near Limoges.

The acquisition was made as a joint venture with Santa Croce-based Conceria Superior, a company that has been the Prada Group's industrial partner for some time. Financial details of the deal were not disclosed.

The company's name, controlled by Prada, will be Tannerie Limoges. The purpose of the acquisition, Prada said, is to ensure the re-launch of a production facility that represents "excellence in the tradition of lambskin tanning", and "plongé nappa leather" in particular, with the aim of preserving "valuable artisanal know-how".

Employment of the qualified local workforce will be maintained, the company said, and preservation and conservation works will be carried out on the architectural site of the company, which has operated in the industry for over seventy years.

Patrizio Bertelli, Prada Group CEO, said: "We are very proud of this acquisition. The
tannery is a highly skilled manufacture with a precious know-how and long tradition. We are
also grateful for the French Ministry of Economy and Finance for allowing us to carry out this
acquisition."

Vertical integration is an important trend emerging in global retail, particularly among high-end brands, according to Steve Sadove, chairman of the National Retail Federation and former Saks CEO.

Speaking at the World Retail Congress in Paris last week, he told delegates: "If you are vertical, that is going to help shape the future and that's why you have the luxury players becoming vertical to get the margin."