×
74
Fashion Jobs
AESOP
Regional Training & Performance Manager
Permanent · Hong Kong
AESOP
Assistant Marketing Manager, Brand Partnership
Permanent · Hong Kong
AESOP
Regional Customer And Store Experience Manager
Permanent · Hong Kong
AESOP
Retail Consultant | Hong Kong And Macau
Permanent · Central
SHISEIDO
Contract Accounting Officer, Finance And Accounts
Permanent · Hong Kong
SHISEIDO
Manager - Business Planning, Ipsa
Permanent · Hong Kong
SHISEIDO
Manager - Ecommerce & CRM, Nars
Permanent · Hong Kong
PUMA
Executive, Key Account - Partner Store
Permanent · Hong Kong
GUSTO LUXE (FORMERLY REUTER COMMUNICATIONS)
PR Intern
Internship · 香港
PUMA
Intern Projects & Analytics
Internship · Hong Kong
PUMA
Assistant Manager Business Process Solutions
Permanent · Hong Kong
PUMA
Assistant Accountant
Permanent · Hong Kong
AESOP
Regional fp&a Analyst, Asia
Permanent · Hong Kong
AESOP
Office Coordinator
Permanent · Hong Kong
AESOP
Employee Experience Officer
Permanent · Hong Kong
AESOP
Retail Recruiter
Permanent · Hong Kong
AESOP
Accountant, Regional Shared Services
Permanent · HONG KONG
AESOP
Digital Insight Analyst, Asia
Permanent · Hong Kong
SHISEIDO
Contract Accountant, Finance And Accounts
Permanent · Hong Kong
SHISEIDO
Senior Manager - Retail Experience And Education, Shiseido And Drunk Elephant
Permanent · Hong Kong
SHISEIDO
Senior Officer - Marketing, Clé de Peau Beauté
Permanent · Hong Kong
SHISEIDO
Contract Sap Analyst (Sdmm), Information And Technology Transformation
Permanent · Hong Kong
Translated by
Nicola Mira
Published
Oct 6, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Liu Jo secures €15 million loan from Italian government

Translated by
Nicola Mira
Published
Oct 6, 2020

The Italian government continues to support the local fashion industry through a variety of initiatives. In July, it intervened to bail out luxury menswear label Corneliani, and now it is lending a helping hand to Liu Jo, to bolster its expansion. State-controlled Italian investment bank Cassa Depositi e Prestiti (CDP) has announced in a press release it is backing “Liu Jo’s expansion plans via a financing agreement worth €15 million in total.”


Liu Jo has secured government backing in the post-Covid-19 recovery phase - Liujo.com


“The funding is chiefly targeted at realising an investment plan whose goals are product innovation and international expansion, as well as scaling up the group’s dimension,” said CDP. Nunzio Tartaglia, head of CDP’s Private Business division, said that “the support given to Liu Jo is consistent with CDP’s goal of working alongside top Italian Mid-Caps who are striving to boost the quality of Made-in-Italy products, in the country and worldwide.”
 
Liu Jo was founded in 1995 in Carpi, in the central Italian region of Emilia-Romagna, a long-established knitwear hub. The company generates a revenue of approximately €400 million and has 800 employees. Liu Jo products, including ready-to-wear, handbags, footwear, fashion accessories, jewellery, furniture, perfumes and eyewear, are distributed via 510 monobrand stores and 6,200 multibrand retailers in 48 countries.

“Over the years, Liu Jo has been able to gain an attractive competitive position and establish a widely known brand, thanks to the managerial skills of founder Marco Marchi, who has always invested in product innovation, new materials’ R&D and marketing initiatives, constantly seeking to strike the right balance between financial and manufacturing capacity,” said Tartaglia.

Tartaglia added that “this has enabled the group to grow at a steady rate, one at which we are sure Liu Jo will continue to expand despite the current emergency, also thanks to [CDP’s] support, a way for us of being increasingly closer to local businesses.”

The Liu Jo group’s financial stability has enabled it to deal with the pandemic’s effects without excessive disruption, while sticking to its investment plan. In parallel, Liu Jo’s CEO Marco Marchi was able to push ahead with his latest project, the Eccellenze Italiane holding company, which incorporates Liu Jo and the Blufin group with its Blumarine, Blugirl and Anna Molinari labels, acquired by Marchi in 2019. The objective is to “build a fashion organisation through which we can tap the right financial and structural synergies, making it a hub for many valuable companies,” as Marchi told FashionNetwork.com in a recent interview.

In the case of Corneliani, the Italian government intervened by other means. To save the label, which was threatened with receivership, it invested €10 million in Corneliani, releasing for the first time the funds available through article 43 of Italy’s ‘Rilancio’ (recovery) decree. The money came from a €100 million fund set aside for 2020, for the preservation and reorganisation of companies that own long-established brands of national relevance, and of companies with less than 250 employees facing economic and financial difficulties. 

Copyright © 2022 FashionNetwork.com All rights reserved.