Kering Marks Impact of 25 Years in Italy
● A study quantified the company's overall economic effect in Italy as 10.9 billion euros.
Marking the 25th anniversary of its presence in Italy as a luxury group, with the acquisition of Gucci in 1999, Kering shared on Monday its study conducted in partnership with leading Italian consultancy firm The European House – Ambrosetti.
Among the results, the study quantified Kering's overall economic impact in Italy at 10.9 billion euros, equal to 0.6 percent of the country's gross domestic product, listing 94,000 jobs and 49 sites for product development, manufacturing, logistics, laboratories and offices. More than 10 billion euros were generated in exports, equal to 1.7 percent of Italy's total exports. The figures all refer to 2022 and consolidated revenues pertain to the Italian legal entities of the group, not retail sales.
“The relationship between Kering and Italy began at the end of the last century with Gucci, and since then we have progressively expanded and diversified our presence and investments, from artisan skills to logistical expertise and managerial competence in the broadest sense,” said Francesca Bellettini, deputy chief executive officer of Kering in charge of brand development. “We are particularly proud of the fact that now all our brands have found and cultivated here, in Italy, the expertise and skills that make their products unique and highly desirable.”
Bellettini, who also holds the role of CEO of Saint Laurent, last month attended the official inauguration of the new Atelier Maroquinerie in Scandicci, near Florence, covering almost 310,000 square feet and employing more than 500 artisans and technicians. The facility will produce all of the brand's prototypes and samples as well as bespoke items for Saint Laurent's VIP clients.
“We were well aware of the positive impact and the virtuous relationship between Kering and Italy. The concrete and factual assessment offered by this study is the best testament to support our beliefs,” said Jean-Marc Duplaix, deputy CEO of Kering in charge of operations and finance. “The extent and quality of the economic relationships developed by Kering in Italy, as shown by the study, recognize us as one of the most important foreign players in the country. The study confirms our positioning as a group with deep and solid Italian roots, and we intend to continue developing investments and attracting and retaining the best talent, always in the spirit of sustainable business growth.”
Recent Kering investments in Italy include, among others, the Bottega Veneta shoes atelier in Vigonza, near Padova, the group's logistics hub in Trecate (Novara) spanning more than 162,000 square meters, and MIL, the Material Innovation Lab based in Milan, dedicated to the sourcing of sustainable materials and fabrics. TIL, the Test and Innovation Lab is located in Tuscany's Prato, and is an analysis lab that performs chemical, physical and biological testing on finished products, semi-finished products, and raw materials, namely for ready-to-wear, leather goods, shoes, jewelry and eyewear categories.