Italian luxury goods production group, Gruppo Florence, is continuing its rapid expansion with its latest acquisition of Ricamificio GS. This marks the 22nd merger for the group, which aims to bring together over 30 small and medium-sized enterprises specializing in high-end Italian-made products by the end of 2023.
Ricamificio GS is a renowned company in the embroidery sector, known for its exceptional finishing techniques such as screen printing, stitching, laser, and printing. With clients like Louis Vuitton, Fendi, and Lanvin, the company has built a solid reputation for its quality and innovation. It was established in 1988 and has consistently invested in cutting-edge technology, expanding its expertise to fabric processing and establishing an in-house graphics department. With a team of 114 employees and a turnover of approximately 16 million euros, Ricamificio GS boasts an impressive showroom spanning 1,000 square meters.
Gruppo Florence, backed by investor funds VAM Investments, Fondo Italiano d’Investimento, and Italmobiliare, has a history of acquiring companies in their entirety, including all assets and staff. While the financial details of the acquisition were not disclosed, the group’s aggressive strategy has proven successful over the years. In just two years, Gruppo Florence has integrated 22 companies, achieving a combined turnover of 500 million euros and employing 2,200 people.
By expanding its network of top-tier Italian manufacturers, Gruppo Florence is solidifying its position as a major player in the luxury goods production sector. The group’s expertise in various fields of craftsmanship allows it to offer a wide range of high-quality products to its clients. With its recent acquisitions, Gruppo Florence is showcasing its commitment to preserving Italian heritage and supporting the country’s thriving luxury goods industry.
Useful links:
– Gruppo Florence website
– Ricamificio GS website
