QATAR Luxury Group buys French leatherwear brand LE TANNEUR
QATAR Luxury Group, owned by Qatar Foundation, announced the purchase of 53% stake in French leatherwear manufacturer LE TANNEUR through the stock exchange, paying 6,51 euros / share. Based in Balley, France, Le Tanneur provides a wide range of complete lines of billfolds, handbags, briefcases and luggage.
Charles Bonnardelle created the brand LE TANNEUR in 1895, revolutionizing leather goods with his clever invention of the “seamless” money purse. In 1900, the company opens a large production facility employing 70 workers: the first deluxe leather goods company is born.In 1914, LE TANNEUR, acknowledged for its quality, was chosen to supply French soldiers with sacks, straps, boots, gaiters and leggings.
Despite its historical luxury positioning, Le Tanneur has gradually become a premium brand with a majority wholesale distribution, especially in the past decade. Online sales and a lower priced range available in department stores have also contributed to the lower positioning of the brand.