The industrial hub Gruppo Florence adds a new partner to its portfolio, another embroidery company specialized in the supply of workmanship for high fashion. It is the GS embroidery factory, one of the top five Italian embroiderers.
The Abruzzo-based company has been operating in the industrial embroidery on fabrics sector for about thirty years, with an estimated turnover of around 2022 million euros in 16: it has 114 employees employed in the two production plants in Sant'Egidio alla Vibrata, in the province of Teramo, headquarters inaugurated in 2011 which also houses a showroom with more than 1000 samples.
It is the second company specializing in intermediate processing that has joined the Gruppo Florence: the first was Officina Ciemmeci, a Tuscan company that offers highly innovative manufacturing solutions including washing, dyeing and manual treatments, both on fabric and leather.
"Tradition, research and innovation are the distinctive traits of Ricamificio GS's DNA, in which we find the essence of the mission of the Florence Group" he said Attila Kiss, CEO of the Group. “The history of this company tells us how important it is to have the courage to experiment in order to be able to preserve tradition over time craftsmanship, without distorting its essence” emphasizing how Ricamificio GS is “capable of making small masterpiecesresult of research on workings and innovative technological capabilities".
“We know many of the companies that have joined the Florence Group and we have already had the opportunity to collaborate with them” he said Emidio Galiffa, Managing Director of Ricamificio GS. “Many of these entrepreneurial realities are born, like ours, from the will of a family that has had the good fortune and the strength to make its company grow” and aims in this way at a “further development, especially at the managerial level".
Gruppo Florence now has 22 companies with a turnover of 500 million. Aim for 30 companies by 2023
The Florence Group, chaired by Francis Trapani, with the new membership now has 22 companies with a turnover of over 2022 million euros in 500, over 2.200 employees operating in twelve Italian regions with over 50 international brands.
Last month the Group received a bond loan medium to long term from 20 million, precisely to support its M&A activity with which it aims to reach the 30 component companies within this year. Florence One is the vehicle company that issued the loan, wholly owned by Fondo Italiano d'Investimento, through Fondo Italiano Consolidamento e Crescita – FICC.
The Florence Group, founded in October 2020, is the first integrated Italian production hub, serving luxury brands on a global level. Approximately 60% is controlled by the consortium led by VAM Investments, Fondo Italiano d'Investimento (through Fondo Italiano Consolidamento e Crescita - FICC), Italmobiliare and the remaining 40% by the founding families of the companies that have joined the project. "The project of Gruppo Florence continues ad attract productive realities which excel in unique processes for craftsmanship and innovation, which make the Made in Italy tradition the increasingly sought-after product by luxury brands on a global level” said Francesco Trapani, President of the Florence Group. “It is a source of great satisfaction for us and for this we thank in particular all the entrepreneurs who continue to believe in our project”.
Here are the companies that make up the group
The Abruzzo-based company joins the twenty-one companies that have already chosen to join the Florence Group project such as Ideal Blue, Taccetti, Maglificio Leonello Spagnol, Maglificio Erika, Calzaturificio Lorenza, Calzaturificio Novarese, Officina Ciemmeci, Facopel, Luciano Barbetta, Confezioni CAM, Confezioni Elledue, Frediani, Parmamoda, Pigolotti, Metaphor, Antica Valserchio, Emmegi, Manifatture Cesari who have joined the three founding companies of Giuntini, Ciemmeci, Mely's knitwear.
