Over half of the fashion system in Florence works for Gucci, that is thinking of 10 new acquisitions.
81% of sector companies work totally or partly for third parties. Gucci distributes 57% of these orders.
The CNA of Florence last March made for the fashion observatory a detailed report on the activity of buying and selling of raw materials and labour of fashion groups.
Just in Florence Gucci buys more than Ferragamo, D&G, Saint Laurent, Bottega Veneta, Fendi and Prada all put together!
For fear of not being able to support the product rhythms and satisfy the market requests because of the possibility of seeing the producers poached by the competition, the CEO of Gucci Marco Bizzarri goes down the route of internalization getting ready to acquire 10 suppliers as well as signing contracts for joint venture and exclusivity with others.
The use of this policy by big fashion groups is nothing new.
In the shoe sector, what created the greatest spin off in the accessories sector, started in the first decade of the 2000s in the Vigevano and Veneto area.
If on one hand the individual identities of our craftsmen are getting lost, crushed by the pretentious names of the colossals of fashion, on the other hand these acquisitions allow these marvellous figures to continue to exist and produce precious art objects as they wouldn’t be able to compete with these “big boys” in a global market.
Photo via Pambianco