- Kristopher Fraser |
Kering-owned French luxury label Saint Laurent has plans to open a new manufacturing site for handbags and wallets outside of Florence. Francesca Bellettini, president and CEO of Gucci, told reporters that Gucci would be moving 340 workers to a new 29,000-square-foot site in Scandicci in addition to hiring another 300 workers.
Saint Laurent has a signed a 27 year contract with Cassa Depositi e Prestiti, and Italian state holding company, to rent out two abandoned buildings that will be handed over to them in 2022 after renovations. In addition to producing leather bags and wallets, the new site will also handle research and development of new products and train workers.
Leather goods, including handbags and wallets, make up a bulk of Saint Laurent's revenue, as it does with most luxury brands. Typically most luxury brands sales come from leather goods, fragrances, and cosmetics, with beauty and fragrances being their most obtainable items and leather goods being their most coveted items.
Photos courtesy of Saint Laurent