Kering subsidiary Gucci Logistica is increasing its stake in Colonna Group to strengthen its investment in the leather industry.

Gucci Logistica, which is active in the design, development, engineering, production, purchasing, sales, import and export of Gucci branded products, already held a 51 percent stake in the tannery since 2019, but is now also acquiring the remaining 49 percent, Italian media including Milanofinanza reported.

The acquisition of the remaining 49 percent of shares has been approved by the Italian Antitrust Authority AGCM and includes four companies, three of which are active in the tanning sector. The acquisition would not result in too little competition on the market, the market watchdog ruled.

Gucci Logistica and Colonna Group have agreed on a five-year competitive interest with the shareholders of Colonna Group. The amount paid by Gucci Logistica for the remaining 49 percent has not been disclosed.

This article originally appeared on FashionUnited.NL. It was translated to English using an AI tool called Genesis and edited by Rachel Douglass..