Published
Jul 26, 2013
Reading time
2 minutes
Download
Download the article
Print
Text size

Renzo Rosso provides help for small- and medium-sized businesses in Italy

Published
Jul 26, 2013

While Italy’s fashion and textile industry is still suffering the aftermath of the recession, Diesel founder Renzo Rosso has launched an initiative to help small- and medium-sized firms get back on the right track. C.A.S.H (Credito Agevolato [facilitated credit] — Suppliers Help) is a program destined to help smaller company’s gain rapid, easy access to credit at a low interest rate of around 2.5%, considerable less than the 18% now being offered by some banks.

Renzo Rosso


“Many people talk about supporting ‘Made in Italy’ but no one does anything concrete. This is a serious project aimed at supporting production through providing financing options to small companies and craftsmen,” explained the Diesel boss at a press conference held at the OTB group’s headquarters. The entrepreneur has signed an agreement with Ifitalia - part of the BNP Paribas Group – and Staff International, OTB’s supplier holds licenses for brands such as DSquared2, Just Cavalli and Marc Jacobs.

The total value of the credit line is 50 million euros, an amount that Renzo Rosso hopes to double within a year. Access to an advantageous loan will be given to all arms of the production chain, from those that provide raw materials and fabrics to those contributing production accessories or end products, and laboratories — dyers or washers, for example. Staff International is tasked determining who is eligible to receive the financing via a rating system that takes into consideration quality of fabrics; reliability in terms of timing, production and deliveries, and partnerships — technical assistance, certificates on tolerance and communication, among others. Ratings will be reviewed every six months.

Of the 455 supplier at Staff International, 40% are already eligible to access the program says Renzo Rosso. Aside from providing tangible help for small- and medium-sized companies, Rosso believes the initiative will help towards creating a pool of quality suppliers in Italy.

Copyright © 2024 FashionNetwork.com All rights reserved.