Chanel has bought the Bodin-Joyeux tannery located in Levrous, France, to ensure the firm continues to produce world-class leathers. The move comes as a luxury houses seek to maintain age-old craftmanship, according to Vogue.

The said tannery was established in 1860. The firm specializes in fellmongery, or the process of removing fur from hides before tanning. The French tannery also handles parchments and color-dyeing, the report said.

Bruno Pavlovsky, Chanel fashion president, said of the transaction, "Bodin-Joyeux is Chanel's long-standing partner for Lambskin Plongé, which is used to create our famous classic quilted handbags. Through this acquisition, we are reaffirming our commitment to the long-term sustainability of traditional expertise, in particular involving lambskin, a noble, unique material, as well as to securing the future of centuries old craftsmanship."

Despite having new owners, Bodin-Joyeux will not operate exclusively for Chanel. The tannery will retain all of its customers, for which it produces 450,000 skins per year, the report detailed.

Recently, luxury brands have been purchasing or investing in businesses to secure the supply of luxury goods, Vogue reported.