Pino Rabolini, who sold the majority of Pomellato shares to the French group PPR, sorry, now it’s called Kering. In short, number one is Andrea Morante, the CEO who has remained au commande, as Monsieur Francois Pinault, the new master of steam, would say. For those interested, the newspaper “la Repubblica” yesterday published a placid interview by Marcella Gabbiano with the former investment banker who converted to luxury after having lived for fifteen years at the top of Credit Suisse First Boston. «It’s not enough to export. You have to be present in the world with your own structures that keep you on the pulse of the different markets”, replies the CEO, sorry, the chef de la management of Pomellato. «The group has managed to internationalize rapidly while maintaining a very competitive level of profitability. Strengthened by a distribution network that includes 86 single-brand stores, of which 45 Pomellato and 41 Dodo, and over 600 points of sale worldwide, it closed the 2012 balance sheet with 146 million euros compared to 102 in 2009. Ebitda reached 21 .8 million (14.5 in 2009) and net profit 7.1 million (2.1 million in 2009)”. And, adds the newspaper, Italy’s weight has gone from 59% in 2009 to 45% today. In short, with more foreign countries Pomellato is a jewel of a company. Which, however, could not grow on its own. But also for one of the big problems that occurs in family businesses: succession. Rabolini’s son didn’t want to know about taking over the reins of the company.
«Rabolini said to himself: since I cannot put my company in the hands of my son who has other interests, I entrust it to those who have proven to guarantee the development and future that he deserves. Hence the choice of Kering which has done important work with another Italian luxury brand, BottegaVeneta.” But perhaps, Morante doesn’t say, he also made a more solid offer from a financial point of view. Morante assures, however, that Pomellato’s style will remain the same, together with Sergio Silvestris, creative director. «We were the first to propose a new collection every year, building a historical archive of great value. When the price of raw materials, gold first and foremost, skyrocketed, we decided to make our most important creations in silver”, continues the manager. «Drawing from the archive, Silvestris has interpreted the icons of the brand with new proportions and a rock style». Result: Pomellato 67 is establishing itself almost as an independent brand. Last news. The interviewer asks: the temporary space on Via Sant’Andrea in the heart of the Milanese luxury district was opened in November 2012. Given that it continues to be very popular, will it be transformed into a permanent space? Answer: «We are thinking about it. We will evaluate. Moreover, over time, Dodo has also taken on the identity of an independent brand.” In short, no announcements. On the other hand, silence is golden, right?
