Borsalino Get Rid Of Bankruptcy And Find A New Employer.

Canepa describes Borsalino as a company founded in 1857 with "good operation but insolvency". He explained that the company itself worked well, but under the control of Marco Marenco, a former Borsalino boss, the company was dragged into the mire. It is reported that Marco Marenco was arrested at Lugano in Switzerland in late April. He was wanted by the police last summer because of false bankruptcy and tax evasion, amounting to 3 billion 500 million euros.

　　 Moccia After coming to Borsalino, he has been responsible for the reorganization of the company and improved the product mix. The cooperation projects including bicycles, umbrellas, perfume and clothing have been concluded. The focus is on women's products. By launching an activity called "cashwoolbeanie" in the autumn of 2013-2014, the target customers are positioned as young people. Design style And improve the luxury elements. Within two years, Female products Sales rose from 5% to 35%, while male products still accounted for 65% of total sales.

Two years ago, when Moccia joined, Borsalino lost 2 million euros before interest tax depreciation and amortization, while the profit before interest tax depreciation and amortization was 200 thousand euros in the first quarter of 2015. Total sales in 2014 amounted to 13 million 500 thousand euros, Moccia said at that time that the company had 15 million euros worth of orders not yet delivered. He expects the company to sell 1800-2000 euros in two years.

In addition, Moccia has shut down 8 shops without strategic significance or poor performance. Today, the brand has 8 direct outlets in Italy, including two very successful stores, one of which is Galleria Vittorio EmanueleII located in Milan shopping mall and the other in Paris. Through Internet wholesale and department stores, Borsalino products can be purchased in 52 countries. In addition, a franchise store was opened in Cannes, France last year.

At present, the US and Israel markets account for 25% of sales. The Japanese market has sales of 2 million euros, and the European market needs further development.

The company is actively expanding its business in the United States and has signed a cooperation agreement with Bollman Hat to grant the sole agency to Borsalino in the North American market. The plan was implemented in the spring of 2015.

Moccia said: "we predict that the sales of the North American market will increase from 1 million euros to 200-300 euros in two years."

The production of the product and its 120 employees are still in Alessandria, and of course, the recruiter will be here later. At the same time, some products are only made in our factory, such as classic straw hats. A woolen hat needs 52 processes, and it takes 7 weeks to make it. Moccia said that Camperio has already given priority to the relocation of manufacturing plants to Italy. The machine invented for Borsalino in nineteenth Century is still in normal use.

According to reports, at a joint meeting held in the new exhibition hall of Borsalino in Milan, Borsalino's CEO Marco Moccia and internal control committee Francesco Saverio Canepa explained that the only way to avoid bankruptcy is to apply to the creditors at the company's Alessandria court, so that Haeres Equita will become the new owner of the debt and repay the debt of the creditors.

Moccia said: "the new owners have put forward a plan that can make the company continue to develop. This is the most important thing now. Borsalino is like a good car. It's ready to go. What is lacking is fuel. " Moccia has been the CEO of Borsalino since 2013.

Haeres Equita is a registered company in Italy, headquartered in Valenza near Alessandria, it can be said that the villagers help.

Although no more financial details were disclosed, it was estimated that the amount of Borsalino debt to be repaid would be around 20 million euros, including the arrears of the Italy government's income tax of about 15 million euros.

The main shareholder of Haeres is Italy investor PhilippeC.Camperio. He is a small business partner of Haeres Capital, a luxury and real estate company in Switzerland. He was also the co founder of private equity Quest Partners, founded in 2000, and general manager of Swiss Luxury Beliefs SA, a luxury goods and fashion management company founded in 2008.

Camperio said: "despite the many problems we have to deal with, we will gladly face the challenge and renew our vitality for the 160 year old brand. We will continue to make it a global luxury brand. Borsalino's good global reputation makes it one of the most symbolic Italy brands. We hope to witness the next 160 years of glory. "