Brunello Cucinelli SpA has sold an 18.5 per cent stake in wool manufacturer Cariaggi Lanificio to Chanel, reducing its own stake to 24.5 per cent, down from its original 43 per cent share.
The Cariaggi family also sold a 6 per cent share to Chanel, retaining a 51 per cent majority.
The reshuffled ownership comes with a long-term governance agreement. Originally Published at Fibre2Fashion
