Hermès has bought Tanneries du Puy, a longtime supplier of the leather used in its products. Specializing in box-calf leather, Tanneries du Puy works for many important manufacturers of shoes and leathergoods around the world. To help secure its supplies and become more vertically integrated, Hermès had already spent some of its excess cash in the acquisition of another famous French tanner, Tannerie d'Annonay, in 2013.