Luxury craftsmanship business LVMH Métiers d’Art has finalised an agreement to increase its stake in the Spanish tannery Riba Guixà from 20% to 80%.
The Riba Guixà tannery is known for its expertise in tanning Enterfino lambskin, a material used for luxury products.
“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.
De Rosa continued: “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.”
Founded in 1932 and currently run by the fourth generation of the Riba family, the Spanish tannery Riba Guixà produces both finished and half-processed leather.
Since its creation in 2015, LVMH Métiers d’Art – a division of luxury group LVMH – has brought together and coordinates a global network of artisan companies that includes farms, exotic and non-exotic leather tanneries, the world of fabrics and manufacturing, and investments in research and development aimed at innovation in production processes.
LVMH Métiers d’Art invests in its strategic supply chain “to access the best materials with absolute guarantees of sustainability, creating a virtuous cycle of innovation, involving local businesses and communities across the five continents”.
