A total turnover, that of the fashion and luxury system, which exceeds 50 billion euros, and which produced the only IPO in 2012, that of Brunello Cucinelli. The success of its entry into Piazza Affari, like that of Salvatore Ferragamo in 2011, should make us reflect on the opportunities that this sector of Made in Italy excellence offers, even in the worst moment of the market.
This is the meaning of seventh edition of the "Research on Top Listable Companies", edited by Pambianco Strategie di Impresa, presented today at Palazzo Mezzanotte, headquarters of Borsa Italiana. The goal is to identify the Italian companies that have the technical and objective requirements to be listed on the Stock Exchange in a time horizon of 3/5 years, regardless of the actual willingness to list. And the novelty of this edition, in addition to the top 50 of Fashion and Luxury, are the top 15 companies of the Home and Design.
In this regard, it should be remembered that the best stock of 2011, Zucchi spa (of which the majority shareholder is Juventus goalkeeper Gigi Buffon), belongs precisely to this last category, and if it had appeared in Pambianco's research this year it would have done so "only" in 14th place: as if to say, there are currently, at least on paper, 13 companies that have an even greater potential than that of the best company on the financial market of the past year. “Just like the rest – remembers Carlo Pambianco during the presentation – last year Brunello Cucinelli was only in 19th place on our list, only to become the only and most brilliant IPO of 2012".
But how does Pambianco arrive at these predictions? The methodology involves examining the data relating to an initial sample made up of 480 Fashion and Luxury companies and 167 Home and Design companies (where Home and Design means furniture, sofas, kitchens, lighting, home textiles ). A first selection made on the basis of criteria that take into consideration the trend in turnover and Ebitda in recent years have reduced the field of analysis to 122 companies in the Fashion and Luxury sectors and 46 companies in the Home and Design sectors.
These companies were then sorted using the quotation assessment model developed by Pambianco, in order to identify the ranking of the top 50 fashion companies and the top 15 design companies. The 2012 podium sees Dolce&Gabbana on the "top step"., as happened in the 2011 edition, followed by Giorgio Armani and the Ermenegildo Zegna Group. The solidity of the first two companies is actually on par, but as Carlo Pambianco explains "it was the age of the entrepreneur that made the difference", which is one of the less influential criteria, but taken into account in drafting the research.
Among the Home and Design companies, the first 3 places went to Kartell, PoltroneSofà and B&B Italia. In order to verify the correctness of the evaluation system used by Pambianco to identify the Top 50 Listable Fashion and Luxury Companies, the same system was applied to companies already listed on the Italian Stock Exchange and whose value is easier to perceive.
“The Stock Exchange and Fashion are getting closer and closer,” he commented Carlo Pambianco. "If until recently the hypothesis of the listing was not taken into consideration by the majority of companies in the sector, today Entrepreneurs realize that approaching the financial world constitutes a fundamental strategic lever for continuing to invest and develop one's brand on the main international markets”.
Luca Peyrano, Head of Continental Europe Primary Markets of Borsa Italiana he added: “Borsa Italiana is the ideal place to host brands in the fashion & luxury and home & design sectors, thanks to the ability to enhance even intangible assets such as brand value and know-how. Borsa Italiana, thanks to its strong international vocation and over 1200 foreign institutional investors and 7000 global funds that invest in securities listed on its markets, offers the best guarantee to companies in the sector that have global ambitions. The 65 companies identified by Pambianco's research represent a sample of Made in Italy companies of absolute excellence, which would find broad consensus among the community of international investors. Through a listing on the Stock Exchange, many of these companies could acquire the financial and managerial resources necessary to accelerate growth and transform themselves from domestic champions into global champions”.
