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Italy

Family ties

May 13, 2012

When it comes to family businesses, Naples is best known for its links to the camorra rather than the legitimate form of enterprise. But, small and family-owned shops are everywhere in town. CampdenFB takes a look at one of those businesses – E Marinella, which has established itself as a world-renowned maker of ties.

When it comes to family businesses, the southern Italian city of Naples is best known for its less than salubrious links to the often family-run camorra, one of the world’s most famous mafia-style crime organisations, rather than the more legitimate forms of the enterprise structure.

But, as anyone who has ever been to this sometimes-troubling city, stretched across the beautiful Gulf of Naples knows, small and mostly family-owned shops are everywhere, adding to the unique flavour of the place.

Prada dresses Italy’s Olympic sailing team

April 6, 2012

Everyone knows Italians take fashion seriously. So it should come as no surprise that the country’s national sailing team will wear clothing designed by one of Italy’s most famous fashion houses at the Olympic Games in London this summer.

Family-controlled Prada announced this week that it will create the outfits for both the athletes and the technical staff, as part of its sponsorship agreement with Federvela, the Italian sailing federation.

Family business roundup: Profits up at Jeronimo Martins, down at ERG and Matalan

March 7, 2012

Portuguese family business Jeronimo Martins posted strong results this week, while Italian energy group ERG and British retailer Matalan reported large falls in profits.

Jeronimo Martins, the food retailer controlled by the Dos Santos family, said revenues jumped 13.2% in 2011 to €9.84 billion, from €8.69 billion in 2010.

In a statement released on 7 March, the Lisbon-based group added that net profit for 2011 was €340 million, compared to €281 million in 2010 – a 21.1% increase.

Family business roundup: Merck and Fiat plan to reduce costs

February 27, 2012

Global volatility looks to be taking its toll on European family-run companies Merck and Fiat, which are respectively cutting jobs and considering closing plants to improve margins.

German family business Merck, which operates in the pharmaceutical industry, plans to reduce its workforce “across all businesses and regions”, according to a statement.

Family business roundup: Pininfarina remains family-controlled while De Tomaso is sold

February 16, 2012

Italy’s economic woes are affecting the country’s family business sector, with two family-controlled auto companies struggling with financial problems. But while car designer Pininfarina will remain family-controlled, automaker De Tomaso has been sold.

Pininfarina, which designed some of the world’s most famous cars including the Ferrari Testarossa and Maserati GranTurismo, has reached a debt restructuring deal with its creditors and will remain under the control of the Pininfarina family.

Ligresti family gives up control of Fondiaria

January 30, 2012

The Ligresti family has ended its control of Italy’s second-largest insurance group Fondiaria SAI, in a bid to restructure the insurer’s assets.

According to a statement released on 29 January, the family agreed on a deal that will see rival Unipol increase the capital of Premafin by €400 million.

Premafin is the holding company through which the Ligrestis control Fondiaria SAI, as it owns 38.5% of the insurance group.

Tod’s threatens to withdraw from Colosseum restoration project

January 15, 2012

“There was once a dream that was Rome and I fear that it will not survive the winter,” says Marcus Aurelius before dying in Ridley Scott’s film Gladiator. This is probably exactly how Diego Della Valle, chairman of family business Tod’s, is feeling today.

“There was once a dream that was Rome and I fear that it will not survive the winter,” says Marcus Aurelius before dying in Ridley Scott’s film Gladiator. This is probably exactly how Diego Della Valle, chairman of family business Tod’s, is feeling today.

Family businesses are Italy's economic engine but face governance challenge

December 18, 2011

Family businesses are the backbone of Italy’s economy but governance seems to be their biggest challenge, with many family firms struggling when it comes to integrating non-family executives.

Family businesses are the backbone of Italy’s economy but governance seems to be their biggest challenge, with many family firms struggling when it comes to integrating non-family executives and expanding the business, according to a leading academic.

Guido Corbetta, professor of family business at Bocconi University, told CampdenFB that companies with concentrated ownership and leadership structures, typically with few family members involved, tend to work best.

La dolce Italia

August 11, 2011

Properties in Tuscany, Lake Como, Cortina and Porto Cervo continue to attract the world’s wealthy. Italian properties are considered not just a short-term investment, but a long-term lifestyle choice. CampdenFO (CampdenFB's sister publication) takes a look at some of the most prestigious properties currently being sold in Italy in an interactive graphic.

Italian family businesses

July 4, 2011

Arguably, there is no country in the world where the word family means more than in Italy. After all, the Latin word that family is derived from—familia, meaning “family servants, domestics”—originated in Ancient Rome. CampdenFB takes a look at some of the leading Italian family businesses in an interactive graphic.