NeroGiardini celebrates 50 years planning to conquer foreign markets

(Il Sole 24 Ore Radiocor) NeroGiardini is celebrating 50 years of history with a two-day celebration at the company's building taken over years ago in the heart of Milan (Corso Venezia). For founder Enrico Bracalente, now president and sole director of the shoe company, it is "an important milestone", taking into account the difficulties overcome in past years, when several times, he stressed, the company faced "dark times" and was almost a step away from bankruptcy. At those times, he vowed to make the company financially independent of the banking system. Today, in fact, NeroGiardini is a company without debts and looking to the future with optimism, strong with a turnover of around 100 million euros realised in 2024 and which it aims to replicate in 2025, cherishing the intention of returning to growth in the years to come, thanks to the investments made and the plan to conquer new foreign markets. Bracalente, on the other hand, excludes plans for a listing, even though he had considered a listing on the stock exchange years ago. 'We manage to self-finance ourselves,' he cut in short.

The company B.A.G., which controls the NeroGiardini brand, was founded 50 years ago in Monte San Pietrangeli, a town in the Marche region in the province of Fermo, by the then 18-year-old Bracalente. Over the years it has grown, "thanks to strategies implemented above all over the last thirty years", explained the founder, emphasising on several occasions and in a moved tone that he had experienced a difficult start.The winning recipe is based on three decisions taken in the past: the first, dating back to the 1980s, was to no longer produce for third parties and instead to create his own brand, NeroGiardini, with its own sales network. The second dates back to the 1990s and was to go against the tide and say no to delocalisation, when instead "everyone started producing first in Eastern Europe, then in China". Finally, the founder's move in '98 to take over all the shares in the company (from his brother and a partner). "However, 'I had serious problems with the credit institutions, which, having remained sole shareholder, did not renew their trust in me. At that moment I decided that if everything went well, in the right direction, I would self-finance the company so as not to depend on the banks, something that has been happening for a few years now, so that today we self-finance all our investments'.

The goal for the coming years is to grow more abroad, both in Europe, where NeroGiardini already has a developed sales network (especially in Belgium and Spain), and in non-European areas, focusing in particular on the USA, Canada, Japan and South Korea. "In addition, I always tell my son Alessandro to look at the Gulf countries," said Bracalente, explaining that in past years he had entrusted his son with the development of contacts in the USA and had recently appointed him to head the sales network in Europe. China, on the other hand, was discarded by the entrepreneur. "We did a test in 2012, but I realised that only planetary brands work in the country. So already in 2015 we abandoned the project." To date NeroGiardini realises 70% of its turnover in Italy, the rest abroad, mainly in Europe, since 'sales in the USA are at an embryonic level, so even tariffs are not a problem for us'.

Over the past few years, the shoe brand has been affected by the crisis that is affecting the fashion industry, especially the so-called aspirational one. "In 2023 we had grown by 20 per cent, reaching revenues of around 120 million, which then slowed down to 100 million in 2024. This year we aim to remain stable at 100 million, but with the investments we have made, especially in the sales network and human capital, we aim to return to growth in the coming years. The vision is clear: to remain in the production of mid-range shoes, 'those between 120 and 200 euro', of good quality made in Italy, but without the costs of luxury brands. The company is also entertaining the idea of developing handbags, which today account for only 3% of turnover, although, Bracalente admitted, 'it is difficult to find the right model'. Instead, the project to develop clothing has been put on hold, as 'we have not found the ideal partner'. After all, skilled hands are also needed, which the company is increasingly struggling to find. "In 2012 we created a vocational school in Fermo for footwear, but in the last year we were unable to make the class due to lack of enrolments. So we are setting up a project with Ethiopia to bring 10-15 young people next year, who will attend the institute for three years learning a trade and then decide whether to join the company," Bracalente said, pointing out that such a project is among the entrepreneur's various charity programmes.