Crisis, payroll subsidies and redundancy funds. Three cases exemplify, in all its harshness, the complexity of the current economic situation, amidst quarterly reports in the red, falling sales and standstill production. First: 500 employees of the Aeffe group are laid off. Second: 65 redundancies at Bally confirmed. Third: Geox downsizes by closing shops and direct...
Stahl, a leading specialty coatings company for flexible materials, is divesting its wet-end business and selling it to Syntagma Capital. The move is part of Stahl’s transformation into a company focused entirely on the formulation of specialty coatings for flexible materials. The sale of the chemicals business also means moving 428 employees, along with production […]
While “combating deforestation is a global priority” – as it obviously is – the truth is that leather should not be considered as a driver of the issue. A truth that has been repeatedly states, demonstrated and forcefully reiterated yesterday in Geneva by UNIC – Italian Tanneries. Location: the Palais des Nations. Occasion. The Deforestation-Free […]
Burberry reverses strategy. First: it will focus on trench coats and not leather goods. Second: it will change its price list, as it admits to having exaggerated. All this while, rumours are circulating about a possible sale and the possible exit of creative director Daniel Lee. Burberry goes -22% The new strategy is called Burberry...
So far it has faced the worst crisis in decades with complete calmness. But now anxieties are also surfacing in LVMH, which has once again reshuffled management, closed the Fondaco dei Tedeschi in Venice, and finally declared war on Elon Musk and his X platform. LVMH’s anxieties Since the start of the year, Bernard Arnault...
Taking Soeur to EUR 100 million in turnover, up from 51 in 2023, by exploiting leather bags and shoes. This is Style Capital‘s plan for the brand founded in 2007 by sisters Domitille and Angélique Brion, 80% of which it took over in 2023. Taking Soeur to EUR 100 mln The turnover has already risen […]
The flexibility of the shoe factory Michielon. Founded in 1973, the company based in Fossò (Venice) has often reinvented itself, between men’s and women’s production, its own brands and third-party subcontracting. But it has always managed to find the right path. Luca Michielon (in the photo), who runs the company with his brother Nicola, tells...
With 371 votes in favor, 240 against and 30 abstentions, the European Parliament approves the Commission’s proposal to postpone the entry into application of the EUDR by one year. During the same session, Strasbourg approved amendments introducing two interesting innovations regarding the commodity country of origin risk benchmark. Business-friendly deferral Allowing businesses time to catch […]
Rising prices and inadequate offer: this is why shoes and handbags went into the red in 2024. Next year, however, there will be a slight recovery for both. Luxury pricing policy was put under indictment by Claudia D’Arpizio (pictured) and Federica Levato of Bain & Company during the Altagamma Observatory held on Wednesday, Nov. 13,...
Prada wants to remain independent, and Patrizio Bertelli and Miuccia Prada are already planning for a succession. This may be the last Italian hope to have a large luxury group with which to counter the French giants. Succession plans The Bertelli-Prada couple (78 and 76, pictured Imagoeconomica) is facing the succession step. As early as...
Between bags and shoes, Coccinelle exceeds EUR 100 million in revenues. The domestic market generated 44% of revenues in the first nine months of the year. General Manager Emanuele Mazziotta is confident that the brand can continue to grow. Also thanks to the expansion of footwear. Coccinelle exceeds EUR 100 million 2024 will be the […]
Summer 2023. In reaction to the news of the halt in production of Mylo, the mycelium-based alternative to leather, Stella McCartney enthusiastically announced a partnership with Mirum, the alternative to leather made from various agricultural by-products. Well, 15 months later, Mirum is in crisis as well. If the British fashion designer’s goal is, as she […]
The leather co-op that in less than thirty years has grown to underpin the economy of Ribeira. That is, the small town in the state of Paraíba, one of the most depressed areas of Brazil where “full employment” is a mirage. The story of Arteza is one that leather opponents should read: founded by a […]
LVMH Luxury Ventures has acquired a minority stake in Swedish brand Our Legacy. It’s yet another investment by Bernard Arnault, who, in addition to his well-known predatory reputation, shows that he carefully selects his investment targets. Stirring up LVMH, meanwhile, is the manner in which the alleged dismissal of human resources director Chantal Gaemperle took […]
Gucci is (still) grappling with (re)building its management team. Kering‘s flagship brand has made further new additions to strengthen the team that will be tasked with relaunching it in the coming months. But it is not the only brand that has decided to unleash real reversals of top roles. Namely, Gucci has been joined in...
A race for solidarity for Valencia’s footwear industry, hit by DANA in late October is underway. Meanwhile, the local shoe district, the most important in Spain, is suffering the effects of the disaster due to the blockade of the port of Valencia. The condition of the Valencia’s footwear industry The Valencian Community is home to […]
“SMEs are a barrier to innovation”. In other words: they hold it back. According to Cristiano Paccagnella (in the photo), general manager of Omac and vice-president of Assomac, the machinery sector for tanneries, shoe factories and leather goods is made up of companies that are too small, and if they do not innovate they risk...
Luxury is slowness: if it is not such, it is not luxury. A definition that appears meager, but tells the story of the framework on which Loro Piana is founded. The brand in the LVMH orbit, which is about to blow out one hundred candles, continues to design collections without compromising. What is the secret...
Sustainability is, before anything else, a matter of awareness and, consequently, of responsibility. Italian tanneries – from a sectoral point of view – know it well, and all too well all the tanneries that – on an individual level – continuously pursue green goals that go beyond just reducing environmental impact. The Russo di Casandrino […]
“Art and culture are tools that can produce innovation in a new, more human and less formal way”. In other words, they are instruments for development. From this sentence we start to tell you about the event built around it. We are talking about the fifth edition of the Economy of Beauty, the business culture...
