TANNERY DEAL: LVMH Métiers d’Art, the French luxury group’s specialist crafts division, has acquired a majority stake in Italian tannery Nuti Ivo SpA.
“With the addition of Nuti Ivo Group, we complete our operations within the leather business, expanding our savoir-faire and product offering while ensuring traceable and sustainable sourcing,” Matteo de Rosa, chief executive officer of LVMH Métiers d’Art, said in a press release Monday announcing the operation.
Ivo Nuti established the tannery in 1955 in Santa Croce sull’Arno, a historic leather-working and tanning area in Italy’s Tuscany region, in 1955. Today, the corporate is managed by Fabrizio and Andrea Nuti, second-generation members of the founding family, and counts greater than 300 employees throughout Italy.
Based on Italian media reports, Nuti Ivo...
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