CUCINELLI/ Acquires 43% of Lanificio Cariaggi Cashmere

Milan, Marc 14, 2022 (LF-MM) - Brunello Cucinelli has acquired from the Cariaggi family a 43% stake in the share capital of Cariaggi Lanificio, with headquarters in Cagli (Pesaro Urbino). The purchase price of the shareholding was 15.05 million euros, a value that is proportionally close to the current net worth of Cariaggi Lanificio. The purchase was financed entirely with own means. Control and day-to-day management of the company will still remain in the hands of the Cariaggi family, which holds 57% of the share capital.

Brunello Cucinelli, Executive Chairman and Creative Director of the Casa di Moda commented: "It is with a great sense of gratitude that we announce that our company has acquired 43% of Cariaggi Lanificio, of Cagli. I had the opportunity to start my own business in cashmere thanks to the human trust that the Cariaggi and Caprai families placed in me. For this, thank you very much. I have always believed that Cariaggi is perhaps one of the jewels of Italian manufacturing, with products of great quality and craftsmanship; there is no doubt that it should be counted among the first industries in the sector in the world, if not the first, and that it represents something important for our territory and its culture. In this project, I am not hiding my love for our land, as well as the great opportunity that our respective children and grandchildren will have to continue manufacturing products in this wonderful fibre that we call 'golden fleece' for decades to come, thus contributing to improving the living conditions of our people".