In a wise attempt to raise its productivity and meet the robust demand for its most expensive leather goods, including the popular Kelly and Birkin women’s handbags, the French fashion house Hermès has apparently acquired the outstanding stake in Soficuir International, which specializes in supply and tanning of precious leathers. Hermès, which already owned around 49% of leather firm, would now gain complete control of Soficur which operates in France, Italy, the U.S. and Switzerland.
Last year, Soficur reported consolidated revenues last year of 56 million euros, or more than $71 million, while employing 230 people give or take. Therefore the acquisition would not only help to raise Hermes’ productivity, but to, at certain point, enlarge its profits. In addition, the acquisition would help Hermès’ to to buoy its position in the fast-growing luxury market. Other attempts of the company to do so include buying 25% of high-end Swiss watch movements maker Vaucher Manufacture Fleurier.
Source: Dnr News.