In summary: diversifying pays off. Rino Mastrotto, Vicenza-based tanning group, closed 2023 with significant numbers – in terms of revenue and employees -, especially considering the way last year closed. The CEO of Rino Mastrotto, Matteo Mastrotto, had already anticipated the group’s satisfaction in October, when at Lineapelle explained the reasons behind the rebranding that had removed the word “group”. “We are a brand and must reason as such”. Said and done.
200 new hires and 350 million euro
Throughout a phase of great uncertainty and profound stand-by, Rino Mastrotto (reads Corriere della Sera, Veneto) closed 2023 with growing revenue of “350 million euro and a high profitability level for the industry”. But there is something that goes beyond the financial statement. “The number of employees, signifying the health of the business, has grown by 200 and is now at more than 1,300 people”.
Industrial artisans
“Our strategy of showcasing ourselves as a brand is working – said Mastrotto during Lineapelle 103, last February -. I think the time has arrived to think differently. We must go back to being artisans: industrial artisans. Not just industry”. An evolved and contemporary way to raise the bar in one’s business model. “Less quantity, more quality”, concludes Mastrotto.
Diversifying pays off
There is a solid base on which these considerations rely: diversification. Rino Mastrotto, in the last few years, built around itself a group that progressively went beyond the limits of the tanning segment. First it acquired Nova Osba and Carroll Leather. Then Tessiture Oreste Mariani, Morelab, Mapel Group and Imatex. And lastly, in 2023, it opened “The Hub – reads an official statement -, in the heart of Riviera del Brenta”. The goal: “Strengthening its position of partner for the luxury footwear industry”. Diversifying has been, until now, “a winning strategy – continues Mastrotto to Il Corriere -. We know 50% of our business comes from the fashion segment, and so, adding textiles to leather, along with ribbons and additional services, we have built an offering structure that the market is appreciating. If we look at the last 5 years, we can say we have grown organically with our leather and via acquisitions”.
Completing the chain
A growth trend that doesn’t seem to be slowing. “We will keep going – explains Mastrotto -, because we still haven’t completed the chain when it comes to our offering, and this remains a goal of ours. We are focusing on medium-sized companies, but strategic ones for the luxury segment. Our guideline is to create a pool of entrepreneurs. We don’t just buy. It’s the acquired companies that become part of the group and the management remains. Buying a company can be easy, and it can be difficult, but what’s fundamental is to keep key resources in, so as to successfully complete the generational change”.
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