Italian business size exceeds 11 billion euros

Italy is a highly strategic location for Kering, with its headquarters, production sites, logistics centers and research and innovation hub. Since the French group acquired his stake in the Gucci Group in 1999 (a pivotal milestone in the evolution of the Gucci Group into a luxury brand), the importance of the Italian market has continued to grow, effectively taking over Kering. Established as a French-Italian group. This is clearly proven in a recent study published in collaboration with the consulting firm European House Ambrosetti.

The luxury conglomerate has grown exponentially in its operational influence in Italy, where it is 25 years old and has 49 offices, including product development, manufacturing plants, logistics centres, laboratories and offices. The company employs nearly 13,500 people at its locations.

Italian brands make up almost half of its portfolio. As a prime label, Gucci accounts for almost half of its sales and about 60% of its operating profit. This was followed by Bottega Veneta, Brioni, Pomellato and DoDo, all acquired in 2001, followed by Kering Eyewear, an eyewear manufacturer founded in the Veneto region in 2014, and Ginori 1735, a historic porcelain manufacturer. It is also worth noting that the company acquired a 30% stake in Valentino last summer.

The Italian company generated revenues of 11.6 billion euros in 2022, registering a growth of 18.3% over three years. As stated in the report, this established Kering and its brands as “a leading company in Italian fashion and related sectors and the country’s fourth largest manufacturing company.” For reference, the company’s total revenue is 20.35 billion euros.

The group’s impact on Italy’s overall exports is significant, amounting to €10.5 billion and increasing by 15% between 2019 and 2022. “Kering’s total contribution to the Italian ecosystem will reach 10.9 billion euros in 2022, corresponding to approximately 10.9 billion euros,” Ambrosetti said. That’s 0.6% of Italy’s GDP. ” This estimate is based on the company’s direct value added, combined with the indirect value added generated by the supply chain and the value induced from expenditures from fees paid by Kering.

“The relationship between Kering and Italy began at the end of the last century, and since then we have gradually expanded and diversified our presence and investments, from our craftsmanship to our logistics and overall management capabilities,” Vice said. Francesca Berrettini, who was appointed CEO, commented: Belongs to the group from September 2023.

Jean-Marc Dupré, the group’s other deputy CEO, added: “The scope and quality of Kering’s economic relationships in Italy, as revealed in the survey, will make the company more competitive in the country.” It stands out as one of the most important foreign companies.” “This study reaffirms our position as a group with deep roots in Italy, and we will continue to develop our investments and attract top talent, always focused on sustainable business growth. We aim to attract and retain.”

In Italy, the company employs 13,500 people, mainly in Tuscany (44.6%), Lombardy and Veneto, representing 28% of Kering’s total workforce. Additionally, this includes all indirect activities related to the company. In total, this group counts 94,437 full-time equivalent positions (FTE) in Italy. The study also highlights that the company invested €10 million in training in Italy in 2022, offering 225 internships, of which a third resulted in employment.

In early 2023, Kering opened new headquarters in Milan and Florence, among others. Additionally, in 2021, the company opened a new important logistics hub in Trecate, Piedmont. Last December, Saint Laurent opened a grand leather workshop in the Florence suburb of Scandicci to create prototypes, samples and bespoke leather accessories. In Tuscany, Balenciaga has opened a leather goods base and training center, and Bottega Veneta has opened a dedicated shoe-making workshop in Vigonza, near Padua, in the Veneto region.