Nov 26, 2015
Hermès acquires Tanneries du Puy, one of its cowhide suppliers
Nov 26, 2015
The luxury group announced on Thursday the acquisition of one of its long-standing suppliers, Tanneries du Puy, a tannery based in the Auvergne region of France (south central) and specialising in cowhide, for an undisclosed amount.
The acquisition on behalf of Hermès Cuirs Précieux (from the fashion label's tannery division) "allows the preservation of more than one hundred jobs in the Auvergne-Rhône Alpes region," Hermès stated in a brief press release.
The luxury goods giant was contacted by the AFP agency but didn't go into further details about the staff of the Auvergne company, and the latter didn't wish to make any statement.
The operation "is part of the Hermès group's ongoing strategy of preserving instances of unique expertise and safeguarding its supply chain," the company also stated in its press release.
Tanneries du Puy is established in Puy-en-Velay, and claims it supplies "the biggest names in luxury footwear and leather goods worldwide," and that exports account for over 50% of its sales.
In 2013, Parisian saddler-leather goods manufacturer Hermès already acquired Tannerie d'Annonay in the Ardèche region.
Luxury brands favour single-tone cowhide, which is easier to dye, and for their handbags they require large-size hides of consistent thickness, without stains or marks.
Saddlery and leather good sales represented 47% of the group's revenue in the third quarter. In the period they grew by 8.6% at constant exchange rates, after a 14.9% increase in the previous quarter.
Copyright © 2022 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.