LVMH’s Métiers d’Art division buys majority stake in Italian leather specialist Nuti Ivo
LVMH has recently acquired a majority stake in Italian leather specialist Nuti Ivo S.p.A. The value of the operation was not disclosed, but Nuti Ivo has now become part of the French luxury giant's Métiers d’Art division. The division was set up in 2015, with the aim of preserving the group's expertise in luxury raw materials and craftsmanship.
Nuti Ivo S.p.A. is a family company founded by Ivo Nuti in Santa Croce sull'Arno, Tuscany, in 1955. It specialises in tannery operations and leather processing and manufacturing. The company is now managed by the Nuti family's second generation, and operates four production sites across Italy, employing some 300 people.
“Nuti Ivo Group still produces in its Tuscan territory of origin, guaranteeing constant control and monitoring as well as thorough working standards, while exporting 85% of its output abroad. These factors allow Nuti Ivo Group the opportunity to work with the world’s leading luxury brands as their clients. The Nuti Ivo Group has also distinguished itself over the years with its investments in sustainability and innovation, becoming a point of reference for other companies in this industry,” said LVMH in a press release.
Another leading French luxury group, Chanel, recently invested in Italian spinning mill Cariaggi Lanificio, alongside Brunello Cucinelli.
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