Companies

LVMH increases its stake in the Spanish tannery Riba Guixà

Jun 5, 2024 France

LVMH’s Métiers d’Art has signed an agreement to increase its stake in Riba Guixà, the Spanish tannery renowned for its expertise in tanning Enterfino lambskin

The subsidiary of the luxury group, which is dedicated to preserving the group’s expertise in luxury materials and craftsmanship, now owns 80% of the company, up from the prior 20%. The Riba Guixà tannery is renowned for its expertise in tanning Enterfino lambskin, a material often used in luxury goods.

“By increasing our stake from 20% to 80%, we are confirming our belief in and investment in Riba Guixà and its unrivalled expertise”, said Matteo De Rosa, CEO of LVMH Métiers d’Art.

LVMH Métiers d’Art is also reaffirming its commitment to a more sustainable vision of the production process, while continuing its mission to pass on expertise to future generations.

“This strategic decision fits perfectly with the mission of LVMH Métiers d'Art; it will allow us not only to further improve the already exceptional quality of lambskin products, but also to promote a sustainable and innovative vision of the production process, while ensuring that artisan traditions are passed on and valued for future generations”, concluded De Rosa.

Image Credits: lvmh.com

France Spain Acquisitions Leather Luxury LVMH Sustainability Tannery