Gucci pursues suppliers acquires the tannery Colonna

Gucci acquires another supplier. The luxury bought a stake of 51% in Colonna Holding, a tanning company. With this business deal, the Kering group, who now forms part of the company, has taken control of the Tuscan leather region.

The acquisition of Colonna intends to consolidate long-term relationships and improve the leather process to make it more sustainable, according to MF Fashion.

The luxury company owns seven tanning workshops around Europe. Three companies specializing in leather in the area of ​​Tuscany, one in Serbia, the tannery Caravel, Blutonis de Ponte Egola and a company located in the Alps called France Croco, specialized in crocodile skins.

This latest acquisition of Gucci joins the goals of large fashion groups to gain control of the leather process. A year ago, Chanel acquired Samantha and LVMH entered the capital of Masoni.

Kering, also owner of Gucci and Balenciaga, has ended the year 2019 with a growth of 16.2%, up to 15.9 billion euros (17.2 billion dollars) overcoming the barrier of 15 billion euros (16 billion dollars) for the first time. In parallel, the group’s profit plummeted by 37.4%.