The lesson of Italpreziosi: combining profit with social commitment
The gold giant, benefit company and B Corp, is committed to promoting women throughout the supply chain
2' min read
Key points
2' min read
Gold prices are rocketing to all-time highs, but not even in the face of this extraordinary and, of necessity, profitable reality does Ivana Ciabatti, founder of Italpreziosi in Arezzo forty years ago, deviate from her ethical principles. Shaking her head, with a decisive frown, she comments: 'When gold reaches these levels, it means that things in the world are not going well, crises, wars or whatever. It doesn't make me feel good, I'm not happy. I am interested in doing good'.
The Story
Italpreziosi is now a leading company in the processing, trading and trading of precious metals, a reference for the Italian and international goldsmith industry, with turnovers in the billions. Ciabatti created it from nothing. After setting up her own business, she decided to buy the raw material for pure gold bars destined for goldsmiths, private investors and bank vaults, directly from the mines. 'No longer from Switzerland', she likes to emphasise. After all, revolutions that trigger lasting breakthroughs start this way, with humble steps capable of changing the status quo. Ivana Ciabatti has since travelled the world, deciding that gold was OK but not at any price. A business case, a good practice that she also takes abroad, always putting her face to the test: at the last Cibjo Congress, the world jewellery confederation, the first organised in China, the audience in Shanghai gave her a standing ovation.
The Actions Promoted
Not only profits, but also tributes to the social commitment that has also grown over time. Italpreziosi is once again on the Statista-Sole 24 Ore list of sustainability leaders for its excellent performance on three fronts: economic, social and environmental. It is a benefit company, with a statute that enhances the social role of the company, and a B Corp.
Ivana Ciabatti has sown these principles at home and not only because Italpreziosi is and remains a family business. Alice Vanni, one of her two daughters, just left the Family Business Forum in Arezzo and flew to Paris to the OECD for another Forum, the one on responsible mining supply chains organised by Women's rights and mining and IGFMining.
"The real change in the precious metals industry," Alice Vanni summarises, "starts when we empower every individual in our supply chain. The discussion at the OECD highlighted the critical need for gender-sensitive due diligence in the industry. Focusing on the issue for some time, as Italpreziosi Spa we signed a joint statement back in 2019 and were proud to share the concrete steps we have taken, including improving our know-your-customer (Kyc) processes to collect more data on women's representation within the supply chain necessary to formulate and implement concrete action steps on the ground."
