Saint Laurent is the latest company to sign on for a new leather manufacturing site located outside of Florence, Italy, Business of Fashion reports.

Situated in the industrial district of Scandicci, the factory will make prototypes of leather bags and wallets, while also being responsible for manufacturing, research and development, and training of employees.

Saint Laurent's President and Chief Executive Francesca Bellettini revealed that the company will move 340 employees to the new leather goods workshop and also hire approximately 300 additional workers. The 29,000 square-meter site includes two previously abandoned buildings, which are to be renovated and made available to Saint Laurent in September of 2022.

And while the new leather goods factory is now under contract for 27 years, it's also worth mentioning that Saint Laurent is continuing to expand its shoe manufacturing division in Italy's northeastern region of Veneto.