Chanel completed the acquisition of a 35% stake in Mantero Seta.

Chanel, a French fashion company, completed the acquisition of a 35% stake in Mantero Seta, an Italian textile company. Financial terms were not disclosed. “The deal represents an exciting accelerator for the development of investment and acquisition paths already initiated in recent years, as well as an important opportunity to refine our interpretation of customer needs thanks to an enhanced ability to understand and communicate, which will derive from a closer and more direct contact with the dynamics of the luxury and fashion world. An opportunity to be even more effective in pushing forward the new frontiers of our sector with renewed vigor,” Franco Mantero, Mantero Seta President.