The president of FederlegnoArredo Emanuele Orsini and Stefano Barrese, head of Intesa Sanpaolo's Banca dei Territori, signed the agreement which one billion euros to support investments in the innovation and circular economy processes of companies with a model of sustainable development of the supply chain at the center and, more generally, of the "home system" which includes wood trade, the wood-construction sector and the home-furniture-design world .
The signed agreement follows the joint initiative undertaken at the end of 2018 to deal with the calamities that have hit the North East cutting down over 15 million trees and identifying concrete solutions for access to credit for the entire supply chain. From the analysis "The Italian furniture industry between tradition and innovation" conducted and presented today by Gregorio De Felice, Chief Economist of Intesa Sanpaolo, it emerges that, despite the strong downsizing in the last decade, the furniture industry maintains a at the forefront of the Italian economy, with approximately 18.600 companies, a total of over 130.000 employees and a turnover of almost 23 billion euros.
The growth prospects on foreign markets are significant: according to the estimates of the Intesa Sanpaolo Studies and Research Department, between 2017 and 2022 Italian exports of high-end furniture could increase by almost 700 million dollars. This figure could grow further if the Italian furniture industry is able to strengthen its presence on foreign markets such as Germany but, above all, China and the United States. Between 2008 and 2018, however, the furniture industry has already increased the range of its exports by 906 kilometres, more than any other sector in Italy. It is no coincidence that the weight of "distant" emerging countries rose to 13% in 2018, from 5% in 2008; that of distant advanced countries rose to 15%, from 9% ten years earlier.
The Italian furniture industry will be able to count on the high quality of its productions, to be accompanied by adequate investments in innovation, certifications (FSC, quality and environmental) and structured commercial strategies (export activity supported by brands and commercial branches). Investments aimed at developing e-commerce, which is growing strongly both on the domestic market and abroad, cannot be missing. The agreement presented envisages the enhancement of the intangible factors that Intesa Sanpaolo has included in the new rating model validated by the ECB and assigns particular attention to companies operating in the supply chain within the home system with increasing attention to eco-sustainability both in terms of materials used and of the production processes adopted.
Through its Innovation Center, the Intesa Sanpaolo Group is strongly committed to promoting a model of sustainable development, just as the companies associated with FederlegnoArredo already today recycle around 2 million tonnes of wood deriving from packaging and separate urban waste collection. In fact, it has been calculated that the circular wood recycling system will be able to create an economic impact estimated at around 1,4 billion euros, with 6.000 new jobs and a reduction in C02 emissions of around one million tonnes. The Intesa Sanpaolo Supply Chain Project, launched nationwide with the signing of over 630 contracts, already includes 19 supply chains in the 'home system', with over 3.000 employees, a potential of over 350 suppliers and a turnover of over 2 billion of Euro. Supporting business development is the mission of FederlegnoArredo, an integrated supply chain that makes Italian design a strategic strength for the entire Italian system.
Emanuele Orsini, president of FederlegnoArredo: “The Italian Wood-Furniture supply chain is an integrated economic supply chain and strong in one of the most virtuous circular systems from an environmental point of view, which goes from the raw material of our forests to the finished product, and thus creates a flow of products high value, created by the districts on the territory. Our companies represent a widespread system of values which as a Federation we support every day and of which the Salone del Mobile represents the showcase par excellence. The world of furniture encompasses a productive reality, a "system" made up of big brands and SMEs which represents a pillar of the manufacturing industry spread throughout the country. In this context, it is necessary to support Italian SMEs, and this agreement is part of the activities we carry out to support our associates in facing the challenges of the markets. Supporting the development of businesses is the mission of FederlegnoArredo, spokesperson for Italian design as a strategic strength for the entire Italian system. A made in Italy that has the ability to look to the future, to innovate, to compete on the markets".
Stefano Barrese, head of Banca dei Territori Intesa Sanpaolo: “The furniture and furnishing sector that we have defined as the 'home system' has strong growth potential abroad, a great ability to attract foreign investors and must seize opportunities, especially in a phase of economic slowdown. Our priority, as the leading bank in the country, is to always favor credit and, in this, agreements with trade associations are essential to involve an entire system. Thanks to the agreement with FedelegnoArredo, we have made available a one billion euro ceiling to give shape to our common values with concrete activities: from the sustainability of new projects to innovation, from the development of supply chains to the circular economy, also making use of the specific skills of our Innovation Center. These themes will also recur in the events scheduled for the public during the Salone del Mobile and the Fuorisalone”.
Gregorio De Felice, Head of Research and Chief Economist of Intesa Sanpaolo: “The furniture industry plays a leading role in the Italian economy. It is the fourth sector for trade surplus with a value of 7,6 billion euros in 2018 and Italy ranks third in the world for market shares in the high-end sector (10,4%), just behind Germany (13,9%) and China (10,9%). The best opportunities come from foreign markets. The sector can leverage around 230 "locomotives", very dynamic companies that create employment and have excellent levels of profitability and capitalisation. The key to coping with the current slowdown is to multiply success stories also through dimensional growth and a greater diffusion of advanced strategies in terms of internationalization and innovation".
