Burberry makes strategic investment in leather goods
Burberry has entered into an agreement to acquire a luxury leather goods business from its longstanding Italian partner CF&P.
Situated in the leather district of Scandicci, the high-end handbag manufacturer has been working with Burberry for more than a decade and according to its website employs 180 people.
In a statement, Burberry said CF&P employees, including the team of expert craftsmen who have worked closely with Burberry, will transfer to the company on completion of the transaction. This is expected to happen later this year.
Marco Gobbetti, Burberry chief executive, said: “This acquisition is a major milestone for us and a statement of our ambition in this strategically important category. It will create a centre of excellence for Burberry’s leather goods, covering all activities from prototyping, product innovation, engineering and the coordination of production. This will give us greater control over quality, cost, delivery and sustainability of our leather goods.”
