Gucci and Intesa Sanpaolo bank have launched an initiative to support exceptional, Made in Italy manufacturers, within the Gucci supply chain.
The partnership deems to implement ethical and responsible practices throughout the brand’s supply chain by facilitating financial resources to eligible suppliers.
The initiative represents the next step in the ‘Sviluppo Filiere’ program, which launched amidst the Covid-19 pandemic in May 2020, and through which more than 150 suppliers in Gucci’s Italian supply chain had access to over 230 million euros in loans provided by Intesa Sanpaolo in the first 12 months.
The project provides small and medium-sized enterprises access to financial capital at better terms and conditions to launch their own industrial evolution in accordance with the principles of the green revolution and ecological transition supported by Italy’s National Recovery and Resilience Plan, geared towards the pursuit of objectives such as: Energy efficiency and waste reduction, renewable sources, development of a circular economy and increasing diversity.
“We are proud to inaugurate the first supply chain agreement for the fashion sector today with Intesa Sanpaolo in an initiative that will allow the Gucci ecosystem to take yet another step in the industry’s sustainable revolution,” said Marco Bizzarri, President and CEO of Gucci. “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. This is a ground-breaking project: everything we have always hoped to achieve, as businesses, to promote the objective of a fairer society, is now within reach. Social and environmental sustainability is a duty: carbon neutrality and equal opportunities are part of a single infrastructure, according to a system-country logic.”