For a small and medium-sized Italian company, being part of the Gucci supply chain has meant, for years now, having access to privileged conditions for Intesa Sanpaolo credit. Now this partnership between the banking group and the brand of the French giant Kering, which “spends” itself on its external producers, extends to environmental and social sustainability. The goal is the ecological transition of the supply chain, in line with the indications of the NRP.
Facilitated credit to subcontractors of luxury brands
The producers of Gucci bags, shoes, clothing and jewelry – hundreds of subcontractors throughout Italy employing 20,000 people – will be able to access financing lines designed by Intesa Sanpaolo in the S-Loan formula and inspired by ESG indicators (environment-environment, social and governance). These include energy saving, waste reduction, water consumption, use of single-use plastics, launch of mobility projects and green logistics, development of the circular economy, promotion of female employment and welfare tools to ensure equality of kind.
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In 2020 over 230 million to 150 SMEs
For some time, Gucci has developed a system for assessing its suppliers with the financial skills of Intesa Sanpaolo, which is now committed to guaranteeing easier access to credit, at better conditions. The collaboration between the two groups in this area has been going on for some time. Even in 2013, when Gucci and Cassa di Risparmio di Firenze (Intesa group) signed the first agreement to share information on the brand’s suppliers and support them in accessing credit. The experiment turned into the Sviluppo Filiere program, launched by Intesa in 2015 and applied to many made in Italy supply chains. In 2020, in order to cope with the Covid emergency, Gucci and Intesa Sanpaolo relaunched the program, which had already given good results: in 12 months – the luxury house and the bank said – there were more than 150 suppliers Gucci which throughout Italy benefited from loans provided by the bank, for over 230 million. These interventions have made it possible to accompany the SMEs of the supply chain in the implementation of projects for growth, internationalization and renewal of production structures.
Towards a sustainable business
Attention to environmental and social sustainability is a theme dear to both Gucci and Intesa. “We are proud to sign the first supply chain agreement for the fashion sector with Intesa Sanpaolo that will allow the Gucci ecosystem to take a further step towards the sustainable business revolution,” said Marco Bizzarri, president and CEO of Gucci. “This agreement inaugurates a new relationship between bank, company and reference supply chain based on sustainability”, adds Carlo Messina, CEO of Intesa Sanpaolo.