Managing Director Antonio Belloni said LVMH will invest 150 million euros in Italy

«The Italian handicraft is matchless and the country is strategic for the group. As a result, there will be significant investment in 2023 expected to reach almost 150 million euros», Lvmh’s managing director Antonio Belloni anticipated to MFF during the You and ME Métiers d’Excellence event in Florence, the first held in Italy after two editions in France. The event is an annual orientation and recruitment show put on by Lvmh until today at Palazzo Pucci and dedicated to young people, involving as well a roadshow in Novara on May 26 and in Padua on September 29.

Later on, Belloni answered a question about the recently released results of Bernard Arnault’s giant, with the first quarter of the year seeing revenues up 17% to 21 billion euros: «These are very encouraging figures for the current year». During his opening speech at the event, he pointed out that 13,000 people are employed by the various maisons in Italy, operating with 35 production sites. «Our manufactures lead an industry segment of 5,000 supply companies, almost all of them Italian, employing 200,000 people. The purpose of You and ME is precisely to get young people excited about these crafts of excellence. I also want to debunk the myth that our jobs are repetitive. Since each creation is unique, it cannot be separated from an accurate knowledge of raw materials. At the same time, our craftsmen work side by side with Web3 and Artificial Intelligence Systems, as we know how much young people are attracted to new technologies».

«For the current year, we are offering over 1,000 training and work opportunities, and we already estimate the same number for 2024, considering only currently official projects», he added. On possible new investments on manufacturing in Italy, Belloni first responded on the purchase of the Nuti Ivo tannery in Santa Croce sull’Arno (Pisa), a deal MFF anticipated last October 19, with «no comment». He then explained that «it will be important to strengthen the Group’s presence in Italy. In particular, in Fendi’s new leather goods factory in Bagno a Ripoli (Florence) we will employ about 640 people in 2024, and the Loro Piana factory in Impruneta will also undergo a similar increase. In general, Tuscany is one big district for us and we work in partnership with the region».

Returning to the two-day Florentine event, participants can discover fashion houses such as Fendi, Loro Piana, Bulgari, and Belmond, and they can fully immerse themselves in some of these professions thanks to augmented reality. You and ME allows young people to find training programs targeted to their specific needs, to prepare for job interviews by meeting with human resources professional, and develop their employability from the leather, jewelry, and footwear sectors to retail, hospitality, and catering. (All rights reserved)