PARIS — In a move to shore up production, Hermès, the French luxury firm, said it would acquire the outstanding stake in Soficuir International, which specializes in supply and tanning of precious leathers.
Hermès, which already owns 49.6 percent of the firm, did not disclose terms of the deal.
Soficuir operates in France, Italy, the U.S. and Switzerland. It reported consolidated revenues last year of 56 million euros, or more than $71 million. Soficuir employs 230 people.
The deal is expected to help Hermes meet robust demand for its most expensive leather goods, including the popular Kelly and Birkin handbags. It is not unusual for customers to join long waiting lists to buy one of those coveted bags.
The acquisition underscores Hermès' recent efforts to consolidate production of its most luxurious items. Last October, for example, the firm bought 25 percent of high-end Swiss watch movements maker Vaucher Manufacture Fleurier to buoy its position in the fastgrowing luxury mechanical timepiece segment.
@deciem is all about transparency and approachability. At this year’s WWD Digital Beauty Forum, the brand's co-CEO @nicolakilner said talking to customers directly about the ingredients in products and how they work is key. #wwdsummits #wwdbeauty
‘We didn't know how relevant our film would be when we were making it. When Steven [Rogers] wrote the script Trump wasn't president, class divide in America wasn't as evident as it is now, though it was present. The Time’s Up movement hadn't began and the way we look at women and treat women who speak out — thankfully that is something that seems to have shifted in the last year. I think we just need to continue making art that provokes the conversation and do what we can,’ said ‘I, Tonya’ actress @margotrobbie. Head to WWD.com to see all the celebrities who walked the red carpet @bafta #timesup #wwdeye (📸: Neil Hall)
Gemma Arterton is joined on the @bafta’s red carpet by Eileen Pullen and Gwen Davis, the two women who started the fight for the pay-gap. ‘They represent a normal person speaking out for what is right. Speak out, we will listen and anyone can speak out,’ said Arterton. #eebaftas #timesup #wwdeye (📸: David Fisher)
On the list of emerging designers to watch at London Fashion Week is @nabilnayal. The Syrian-Born and raised designer – who is known for his sculptural and dramatic designs with an Elizabethan era aesthetic – said he designs for a woman who is not afraid to challenge conventions. To see which other up-and-coming talents are joining the schedule this season, head to WWD.com. #wwdfashion #lfw (📷: @gomezdevillaboa)