Gruppo Florence Enters Shoe Arena With New Acquisitions
MILAN — Gruppo Florence’s ambition in the accessories category is getting off the ground.
After acquiring hatmaker Facopel in June, the group said Wednesday it has invested in Lorenza Calzaturificio and Novarese, two shoe specialists.
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Headquartered in Chieti, in the Abruzzo region, Lorenza Calzaturificio produces casual shoes for luxury brands. In 2021 its turnover amounted to 23 million euros. Founded in 1946 and based in the nearby Marche region — a key footwear manufacturing hub — Novarese counts around 220 employees and has been actively reducing its carbon emissions by directly producing part of its energy.
A third acquisition has targeted Officina Ciemmeci, a spin-off company founded in 2015 by the owners of Ciemmeci Fashio, which is already owned by Gruppo Florence.
Tuscany-based Officina Ciemmeci specializes in washing, dyeing and a wide range of mechanical treatments on textiles and leather, including studding, lasering, crystal application and pleating, among others. In 2021 it generated 5 million euros in sales.
As is customary for Gruppo Florence’s acquisitions, the founding families have agreed to maintain minority ownership of the companies they run.
“With the original investment made two years ago, I’m particularly proud for drawing the interest of several entrepreneurs across the supply chain and for having gathered so many Made in Italy excellences,” said Francesco Trapani, Gruppo Florence president and chairman of VAM Investments. “The positive reaction of luxury conglomerates proved our intuition to offer a more structured relationship [between brands and suppliers] was an industry must,” he said.
Attila Kiss, chief executive officer of the group, described the most recent acquisitions as a push toward the accessory category. “Our goal is to provide luxury brands with Made in Italy excellences under the same industrial platform and active across product categories,” he offered.
Gruppo Florence — which is controlled by private equity fund VAM Investments, Fondo Italiano d’Investimento and Italmobiliare and has sales in the region of 350 million euros — owns controlling stakes in 17 companies, including Metaphor, which produces high-end knitwear; informal outerwear manufacturers Emmegi and Giuntini; jersey specialist Manifatture Cesari; Ciemmeci, a company that specializes in the production of leather and fur pieces; Antica Valserchio, and knitwear firm Mely’s.
As reported, in May the group acquired majority stakes in Bergamo, Italy-based ready-to-wear manufacturer Cam; Confezioni Elledue, a specialist in casual outerwear based in Tuscany; Turin-based Frediani, which produces luxury outerwear; Parmamoda, which manufactures rtw, and Pigolotti, a family-run specialist in jerseys combined with precious textiles such as cashmere and silk. In June, it added jersey specialist Barbetta and hatmaker Facopel to its roster of companies.
