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Italian family business

What can families learn from the Benetton bridge backlash?

August 22, 2018

Prioritising family-centred non-economic goals could have mitigated the reputational damage the Benetton family is suffering in the wake of the deadly bridge collapse in Italy, an academic says.

Prioritising family-centred non-economic goals could have mitigated the reputational damage the Benetton family is suffering in the wake of the deadly bridge collapse in Italy, an academic says.

Instead, the Italian public and media see the Benettons as a family that prioritised profits over public safety.

Benetton family targeted over Genoa bridge collapse

August 17, 2018

Italy’s Benetton family is under attack from politicians and the public following the involvement of one of their companies in the Genoa bridge tragedy.

Italy’s Benetton family is under attack from politicians and the public following the involvement of one of their companies in the Genoa bridge tragedy.

FB Roundup: Missoni, Heineken, and Marriott

June 20, 2018

Missoni eyes international expansion, Heineken invests in the Great British Pub, and Alexa checks into Marriott.

Missoni eyes international expansion

The Missoni family have sold a 41.2% stake in their eponymous fashion house to Italian private equity firm FSI, a move the family say will make them more competitive internationally.

The stake was valued at €70 million ($93 million), and the companies said in a statement it would involve a capital increase and no leverage against Italy’s Missoni. The family retains majority control.

Sweet deal: Ferrero buys Nestle's US candy for $2.8 billion

January 17, 2018

Family-owned confectionery giant Ferrero has rebelled against the retreat from sugary snacks, executing a $2.8 billion buy-out of Nestlé’s US confectionery business.

Family-owned confectionery giant Ferrero has rebelled against the retreat from sugary snacks, executing a $2.8 billion buy-out of Nestlé’s US confectionery business.

The deal will make Ferrero the third-largest player in the world chocolate market, behind fellow family business Mars, and Hershey’s, which bid against the Italian company in the battle for Nestlé.

Benetton co-founder returns to rescue embattled Italian icon

December 8, 2017

The 82-year-old co-founder of iconic Italian fashion retailer Benetton has taken over control of the family business from non-family executives as it struggles with mounting losses.

The 82-year-old co-founder of iconic Italian fashion retailer Benetton has taken over control of the family business from non-family executives as it struggles with mounting losses.

In 1965 Luciano Benetton (pictured) established the company with his three siblings that became famous for colourful knitwear and provocative advertising campaigns in the 1980s and 1990s.

He served as Benetton's chairman from 1978 to 2012.

Ferrero Group appoints first non-family chief executive

April 3, 2017

The third generation Italian family behind chocolate brands Nutella, Kinder eggs and Tic Tac, has announced its first non-family chief executive as part of its new global expansion plan.

The third generation Italian family behind chocolate brands Nutella, Kinder eggs and Tic Tac, has announced its first non-family chief executive as part of its new global expansion plan.

FB Roundup: Lavazza, Fiat Chrysler, and Lotte Group

July 24, 2015

Lavazza to acquire Carte Noire for €800 million; Fiat Chrysler announces Ferrari IPO; and Shin Dong-bin appointed CEO at Lotte Holdings

Lavazza to acquire Carte Noire for €800 million

Lavazza, the family-run Italian coffee maker, has put in a formal bid to acquire French brand Carte Noire for €800 million ($879 million).

According to a company statement, the deal will treble the company’s turnover in France and will help it grow organically in the surrounding regions.

Italian government back tracks on loyalty shares

February 12, 2015

A measure introduced by the Italian government to incentivise partial listing of family businesses and encourage long-term shareholdings has been amended after institutional investors raised concerns that it unfairly benefited controlling shareholders.

Last year the Matteo Renzi-led government allowed listed companies to introduce “loyalty shares”, which grant shareholders double voting rights if they hold stock for more than two years.

Versace calls fake on new television drama

October 9, 2013

The Versace family empire has distanced itself from a made-for-television drama based on the rise of Donatella Versace following the murder of her brother, company founder Gianni Versace.

Premiering in the US over the weekend, House of Versace detailed how Donatella almost bankrupted the luxury fashion brand, following her addiction to drugs.