- Zach Shipman
Arnault’s LVMH ready to invest 100 million in Italy
LVMH is ready to strengthen its relationship with Italy, with new important investments in our country. In fact, the company led by Bernard Arnault considers Italy strategic within its growth plans, as explained by Toni Belloni, managing director of the group (here one of his profiles).
“We have thirty production sites in the main Italian districts and we collaborate with 5,000 companies and 100,000 people as induced. And the development will also take place in the future and we are thinking of at least 100 million euros a year in the next two years of investments. In fact, we will also increase the integration of the supply chain ”, explains Belloni, as reported by MF Fashion.
“In September 2022 the Fendi factory in Bagno a Ripoli (Florence) will open on 13 thousand square meters, which in the first phase will employ 250 workers, destined to become 400-500 in the future, also considering that we will not abandon the current site in the area in which we have been present for some time. A new building completely surrounded by greenery that could be called Fabrica. Also in the area south of Florence we have expanded the Bulgari leather goods factory and now we are thinking of that of Loro Piana, a brand which is also doing very well. Outside the region, we are thinking about the realization of the third module of Thelios in Veneto, an eyewear pole born in 2018 ».
“Furthermore, the basic concept of our commitment in the Made in Italy supply chain is that we strongly believe in the long-term relationship with our suppliers, with averages of 10 years and peaks of 40 years and that in some cases, as for the Masoni tannery saw the group enter into participation with a minority stake (see MFF of 20 December 2019). Among other things, the positive results of this agreement prompted the same entrepreneur to decide to open a new plant next year. Furthermore, also in Tuscany and in the leather goods area, a project is being studied for the concentration of craftsmanship, and for this reason we are also evaluating investments in other districts than those already presided over by Scandicci and the Chianti area, with a scouting in collaboration with the Tuscany Region ”, Belloni then concluded.