Gucci & Intesa Sanpaolo partner for sustainable supply chain in Italy

09 Jul '21
2 min read
Pic: Creative Lab /
Pic: Creative Lab /

Luxury fashion house Gucci and Italian international banking group Intesa Sanpaolo have collaborated to drive transition of supply chain towards sustainable and inclusive practices. The agreement will allow SMEs within Gucci’s supply chain to access ad hoc financing lines introduced by Intesa Sanpaolo with the S-Loan formula and inspired by ESG indicators.

Said to be the first of its kind in Italy, the agreement will help SMEs to implement concrete actions and interventions, aligning with the guidelines of the National Recovery and Resilience Plan (PNRR), Gucci and Intesa Sanpaolo said in a joint press release.

The collaboration aims to achieve objectives like energy efficiency and saving; introduction of green mobility/logistics projects; development of facilities producing energy from renewable sources; adaptation of business models to facilitate the development of a circular economy; activation of initiatives to increase female employment rate in the company and support their professional growth; implementation of welfare policies aimed at ensuring equality and reducing the gender gap; and adoption of a transparent system for certifying gender equality.

Through this initiative, SMEs that are part of Gucci's supply chain will benefit from facilitated access to loans at better terms and conditions and launch their own industrial evolution in accordance with the principles of the green revolution and ecological transition supported by the PNRR national plan.

“This is an important step because only together—public and private sectors, large companies and SMEs—can we reach the critical goals for society and for Italy advocated by the National Resilience and Resilience Plan,” said Marco Bizzarri, president and CEO of Gucci.

“The agreement signed today with Gucci represents a new kind of relationship between bank, lead company and its chain of suppliers - a relationship based on sustainability - that we are the first to launch at this turning point for our country, marked by the allocation of the Next Generation EU Programme funds,” said Carlo Messina, CEO of Intesa Sanpaolo.

The agreement announced today is based upon the partnership model that was launched in 2020 to address the COVID-19 emergency through Intesa Sanpaolo’s ‘Sviluppo Filiere’ programme, which supports the development and growth of the Gucci supply chain and the industrial context in which they operate.

In the last 12 months, more than 150 suppliers in the Gucci supply chain, based in Italy, benefitted from over €230 million in loans provided by Intesa Sanpaolo.

Fibre2Fashion News Desk (KD)

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