The Piquadro group is on the hunt for bargains. Having failed its assault on Sergio Rossi, founder and CEO Marco Palmieri is now looking for “companies with a great potential, but that are doing poorly”.
Strategies
Having failed its assault on Sergio Rossi, Piquadro continues on its hunt and is looking for brands to acquire. Palmieri (in photo from Imagoeconomica) confirmed it to Corriere della Sera: “We are interested in brands that, even if a bit tarnished, retain a strong identity and history. We are not interested in buying into projects that are doing very well and paying a lot for them. We’re looking for companies that have great potential but are doing poorly, to pull their brands up and lead them back to growth. In recent times, many opportunities are coming up. We are waiting for the right one”.
Positive trend
Piquadro can also afford to think about shopping because of the positive trend. Last September 30, the group closed its first half of the 2024-2025 fiscal year with sales of 87.8 million euros, +2.1% compared to the same period last year. “We have always managed the company without taking too many risks, focusing more on the product than on commercial strategies”, explains Palmieri, who in reference to the IPO states: “Before, in the company, the decision makers included me and myself.
When external and independent members joined the board, they forced me to think more about the risks I was taking, about structuring a governance with solid decision-making processes, and take compliance seriously. The entrepreneur needs someone to tell him when he is doing wrong and where”. Palmieri also talked about the industry’s supply chain. “Fashion supply chains are very long, with lots of subcontractors. As recent cases show, it’s very difficult to check that everything is in compliance. Having a risk committee in the company forces you to take notice, and do what is possible within means”.
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