Milan — Personal relationships and sharing the same business vision often result in long-lasting partnerships. Time will tell if this is in the cards for Remo Ruffini and Renzo Rosso, but on Thursday the two entrepreneurs apparently agreed on how to form their own companies, Moncler and OTB. did.
The RCS Academy's Digital Fashion Business online talk ranged from the pair's mountain biking trip to the lack of luxury conglomerates in Italy.
“The only entrepreneur in Italy, [luxury] The Renzo group owes much to his ambition, creativity and the organization he built. “There may be people who have a lot of money at any given time, but without this kind of business culture, Paul has little chance of success,” said Ruffini, Moncler's chairman and chief executive officer.
“I [Italian] “It's a good time for luxury groups to come together because of the pandemic,” agreed Rosso, whose OTB Fashion Group acquired 100% of the Jil Sander brand last March. OTB also controls Diesel, Maison His Margiela, Marni, Viktor & Rolf, Staff International and Brave Kid, and holds a minority stake in Amiri.
When asked about the possibility of a business partnership between the two companies, both said “never say never,'' leaving the door somewhat open, but there was no big fuss.
Mr. Ruffini and Mr. Rosso spoke about creating value for the survival of the industry, its employees, and ultimately the companies they lead.
“Managing businesses today requires a cultural shift and new business thinking. Not all businesses will be able to keep up with this transformation. Companies that can't go it alone can always partner up. ” Rosso continued.
“OTB is committed to helping our brands advance rapidly, but this requires significant investment and talent,” he added.
As previously reported, Mr. Ruffini established a fashion group following Moncler's acquisition of Sportswear Company Spa, owner of the Stone Island brand, in December last year in a deal valued at 20 million yen. I avoided the idea of doing it again. 1.15 billion euros.
Succession planning for the top management team at Moncler, which has been listed on the Milan Stock Exchange since 2013, is a top priority for Ruffini.
“I'm the president and CEO of Moncler, but I'm actually neither. We have a committee of five people that meets weekly to make decisions,” he said. “I am not attached to ownership or percentages or stakes, but rather to creating value. In Italy everyone seems to want full ownership, and they own 99 percent of their company. That's understandable, but this will lead to this country [luxury] It’s a group,” he added.
Many of Moncler's top executives have already trained managers to follow in their footsteps, and Mr. Ruffini has not ruled out handing over the reins to his sons, but he says the conditions are better than all other candidates. It was a condition.
Three of Rosso's seven children already work at OTB, but the entrepreneur said he is ready to pass the baton to them when the time is right.
At the same time, he did not rule out the possibility of OTB Group going public in the future to ensure the continuity of the company, as he has said for many years. “Public companies leverage an extra boost that private companies don't get. I like the idea of having a broader audience involved in the success of a public company,” Rosso said.
“We will reach that point within a few years, and then we will be able to manage our companies in a different way. And most average Italians who grow a small garden Like, I'm not attached to ownership either, but I think so.''The responsibility of creating something big and important, and the 7,000 families who have made our group so beautiful. “I am satisfied with my responsibility,” he said.
Both entrepreneurs expressed their concern for the next generation of fashion professionals, and are working with schools to better reflect today's business needs in the fashion industry and other sectors where digital know-how and technological backbone are paramount. He called on the government to invest in rebuilding the university system. .
In his new role as head of Confindustria, focused on promoting the excellence, beauty and taste of the Italian brand around the world, Ms. Rosso will be particularly active in helping the Italian government develop its National Recovery and Resilience Plan. He said he is now committed to bringing education issues to the forefront of discussion. The plan submitted to the European Union calls for 20 billion euros in funding for the school system.
See also:
Moncler takes full control of Stone Island
OTB advances beauty and digital with two board additions
Stone Island's Carlo Rivetti talks about the brand's future with Moncler
