SACE and Pitti Immagine: agreement for the competitiveness of Italian high-end fashion companies
The SACE group and Pitti Immagine are announcing the signing of an important collaboration agreement designed to enhance the international competitiveness of companies participating in the trade shows organized by Pitti Immagine through better access to the insurance-financial products and services provided by the SACE group.
Pitti Immagine operates at the highest level in promoting the fashion industry and design and has recently extended this activity to the wine & food and perfume sectors: segments of Italian production already admired in foreign markets, with exports registering growth rates above the world average in the first seven months of 2014 (textiles + 3%, fashion + 5.5%) and finding in countries outside Europe such as Hong Kong, China and Turkey some of its most important markets.
Specialized in supporting exports and internationalization, the SACE group has developed a range of products and services to meet all the requirements of companies competing in Italy and abroad: access to loans for internationalization, insurance on sales against default risk, protection of foreign investments against political risk, liquidation of credits due from Italian and foreign counterparties, and advisory services.
The purpose of the collaboration agreement is to bolster the channels of communication and information exchange between SACE and Pitti Immagine, in addition to training programs and commercial initiatives, with a strategic, integrated approach, thanks to Pitti Immagine's role of facilitator on behalf of the companies gravitating around it (1,170 companies at each edition of Pitti Uomo; 440 companies at Pitti Bimbo; 115 spinning mills at Pitti Filati; over 200 women's fashion firms at Super; and 450 more companies at Modaprima, Taste and Fragranze).
“Italian fashion still has a high unexpressed export potential in both its established markets and in new geographical areas: in addition to the Middle East, I am thinking about frontier markets such as those of the Far East and Central Asia, where the partnership with SACE can truly make a difference, as many companies in various Italian manufacturing sectors have already discovered," declared Simonetta Acri, manager of SACE's domestic network. "This is precisely the objective of our agreement with Pitti Immagine: to increase the global market share of Italian high-end production beyond the current 13% by providing adequate instruments to improve cash flow, offer competitive payment conditions, and provide advisory services to deal with delicate aspects such as the evaluation of counterparties, the preparation of contracts, and the management of risks."
“In a period of complexity and economic turbulence like the present," adds Raffaello Napoleone, CEO of Pitti Immagine, "it is even more essential for midsize companies, which represent the backbone of Italy's quality production system, to have insurance and financial support. So we are very pleased to have reached this agreement with SACE: for Pitti Immagine, this is an additional instrument for helping our companies achieve their potential, not only enabling them to initiate and develop commercial contacts during our international trade shows but also providing concrete guarantees for the subsequent phases of their business."
Photo: A model of the Italian designer Giorgio Armani
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