The official confirmation has arrived, after the previews of the Sole 24 Ore last October: Lvmh Métiers d’Art, the division that brings together the investments of the French luxury group in the production chain, announces the acquisition of the majority of the Nuti Ivo tannery, one of the most important names in the Santa Croce sull’Arno district (Pisa), specialized in the processing of bovine hides for high-end fashion (in 2021 it had a turnover of 58.7 million euros with 8.65 million net profit) and part of a family group made up of seven tanneries with more than 130 million in revenues. In Italy, the group has four production centers with 300 employees. The Lvmh press release defines him as “among the most important leaders in the international tanning sector” and “manufacturing excellence with a great tradition”.
The Nuti Ivo tannery exports 85% of its production and has so far been one of the strategic suppliers of the Lvmh group, having “standed out over the years for its investments in sustainability and innovation – states the press release – operating as a reference for other companies in the sector ». For Lvmh Métiers d’Art, the acquisition means “ensuring a future, by giving new opportunities, to local craftsmanship excellence which alone, in the new scenarios of the luxury industry, could struggle to maintain an international projection”, explains Matteo de Rosa, CEO of Lvmh Métiers d’Art. For Fabrizio Nuti, president and CEO of the Nuti Ivo Group, joining a group like Lvmh is «the natural evolution of our history, after more than 40 years of collaborations with the best brands in the world: it is an incentive to grow and improve in all areas of our savoir faire, guaranteeing a future for our company».
Since 2019, the Lvmh group already owns 20% of another tannery in Santa Croce, Masoni Industria Conciaria (50 million turnover in 2022), which has acquired a minority stake in another tannery in the Tuscan district, Ulivieri & Nardi.