Prada is set to rename their new venture Tannerie Limoges.The tannery, known for its specialisation in lambskin and plonge leather, went out of business in 2013. However now that Prada has acquired the tannery, the factory will be renovated and the majority of the original staff will be kept on.
“It’s a high-quality tannery with a great tradition,” said Prada Group chief executive officer Patrizio Bertelli, reported WWD. “We are also grateful to the French ministry of economy, finance and industry, which enabled us to complete this operation.” Prada is said to have purchased the leather working firm along with its long-term partner Tuscan Conceria.
The new acquisition will undoubtedly help Prada develop its leather goods division, which has been struggling with slow sales over the past few months.