The region of Emilia-Romagna in northeastern Italy was recently devastated by historic floods, causing immense damage and loss. This region, known as a major hub for the luxury industry, has received an appeal for donations from various luxury groups.
Between May 16th and 17th, Emilia-Romagna experienced rainfall equivalent to six months’ worth, leading to a tragic toll of 14 deaths, over 36,000 evacuees, and an estimated six billion euros in material damage. While the government has announced a two billion euro aid package, several Italian and international industrialists have also pledged their support.
One prominent luxury group, LVMH, has expressed its commitment to help the region and its inhabitants. Toni Belloni, Deputy General Manager of LVMH, highlighted the importance of Italy to their business and the need to act in the face of such devastation. LVMH has not disclosed the amount of assistance they are providing, but the President of the Emilia-Romagna region, Stefano Bonaccini, mentioned a donation of one million euros from the company.
Another major player in the luxury industry, the Kering group, has also announced its financial contribution. Their portfolio includes renowned Italian brands such as Gucci, Bottega Veneta, Pomellato, and Brioni. Additionally, the Piquadro group, known for Lancel, and the automobile manufacturer Ferrari, which is based in the region, have offered their support as well.
Emilia-Romagna holds significant importance within the luxury industry, as it is the birthplace of many designers and iconic Made in Italy brands. From Armani and Alberta Ferretti to Furla, MaxMara, and Giuseppe Zanotti, this region plays a vital role in the supply chain of the textile industry, boasting a vast network of garment workshops and logistics sites.
In conclusion, the luxury industry has united to support the flood-affected region of Emilia-Romagna in Italy. Companies like LVMH, Kering, Piquadro, and Ferrari have pledged financial aid to help the devastated community and contribute to the rehabilitation efforts.
Useful links:
1. CNN: Italy floods
2. Reuters: Flooded Italy awaits repair aid, businesses seek electoral appeal
