Brunello Cucinelli — M&A Activity 2023

May 23, 2023

Informazione Regolamentata n. 1264-31-2023		Data/Ora Ricezione 23 Maggio 2023 17:42:53	Euronext Milan
Societa'	:	BRUNELLO CUCINELLI
Identificativo Informazione Regolamentata	:	177411
Nome utilizzatore	:	BRUNECUCIN02 - De Angelis
Tipologia	:	REGEM
Data/Ora Ricezione	:	23 Maggio 2023 17:42:53
Data/Ora Inizio Diffusione presunta	:	23 Maggio 2023 17:42:54
Oggetto	:	Chanel alongside Brunello Cucinelli in the prestigious Lanificio Cariaggi
Testo del comunicato

Vedi allegato.

CASA DI MODA BRUNELLO CUCINELLI: Brunello Cucinelli, Chanel and Cariaggi family reached an agreement for the sale to Chanel of a minority stake in Cariaggi Lanificio S.p.A.

Solomeo, 23 May 2023 - Brunello Cucinelli S.p.A. - a Casa di Moda operating in the luxury goods sector, listed on the Italian Stock Exchange (now, Euronext) - informs that it has reached an agreement with Chanel and Cariaggi family providing for the sale by Brunello Cucinelli to Chanel of a 18.5% stake in the capital of Cariaggi Lanificio S.p.A.

Brunello Cucinelli owned a shareholding of 43% in the share capital of Cariaggi Lanificio. Following the today's sale Brunello Cucinelli retains a stake of 24.5%.

By virtue of the same agreement Cariaggi family has sold to Chanel a shareholding of 6% in the share capital of Cariaggi Lanificio.

Following such transfers, the share capital of Cariaggi Lanificio is held by Cariaggi family with a stake of 51% and by Brunello Cucinelli and Chanel with a stake of 24.5% each.

The parties have signed a long-term shareholders' agreement to set the corporate governance of Cariaggi Lanificio S.p.A. providing that the Cariaggi family retains control and management of the company.

Brunello Cucinelli, Executive Chairman and Creative Director of the Casa di Moda, commented on the transaction as follows:

«I am particularly happy on this day of truly historic importance. The agreement we have reached represents a splendid diadem that will enhance the value of the entire Italian supply chain, enormously pleased by the fact that a Maison of absolute excellence in global fashion like Chanel has chosen to invest in Made in Italy by sharing with us the beautiful Cariaggi wool mill project. I therefore consider it a joyful day of celebration, which we believe will be followed by years full of great achievements by virtue of this very, very special collaboration. After all, with Chanel we are in the presence of a true international icon of style, elegance and beauty and I am immensely honoured that they have decided to work with us. This agreement, I am certain, will constitute for all of us the best possible leaven for magnificent growth as humans, not just professionals, over the coming decades.

By virtue of all these healthy and concrete elements, I sincerely thank the esteemed Cariaggi family, to whom my family and I have always been tied in a virtuous relationship of shared values, and the equally esteemed Bruno Pavlovsky, President of fashion at the prestigious French Maison, which gives this memorable accord an added value of great beauty.»

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Brunello Cucinelli S.p.A. is an Italian Casa di Moda - founded in 1978 by the fashion designer and entrepreneur of the same name and listed on the Italian Stock Exchange - that operates in the creation of luxury goods. Our Casa di Moda, which has always been rooted in the medieval village of Solomeo, is considered an authentic expression of the idea of "Humanistic Capitalism," capable of reconciling steady and solid growth with an entrepreneurial philosophy aimed at the great themes of Harmony with Creation and Human Sustainability.

A specialist for cashmere productions, the brand is considered among the most exclusive of chic ready-towear, recognized worldwide as an expression of everyday lifestyle. The combination of modernity and craftsmanship, of elegance and creativity, of passion and human values make Brunello Cucinelli among the most exclusive and admired testimonials of Italian style in the world, authentically interpreting the values of tailoring and high craftsmanship characteristic of Made in Italy and peculiar to the Umbrian territory, skillfully combined with attention to innovation and contemporary style.

Through a healthy, balanced and sustainable growth path, the company's great goal is to try to make profits with ethics and harmony, with full respect for the moral and economic dignity of the more than 2,300 Human Resources who work directly for the company, and for all those who collaborate with it.

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Contact details: Investor Relations & Corporate Planning

Pietro Arnaboldi Brunello Cucinelli S.p.A. Tel. 075/69.70.079 Media Vittoria Mezzanotte Brunello Cucinelli S.p.A. Tel. 02/34.93.34.78

Corporate website: www.brunellocucinelli.com