Source: www.fibre2fashion.com
Luxury fashion house Gucci and Italian international banking group Intesa Sanpaolo have collaborated to drive transition of supply chain towards sustainable and inclusive practices. The agreement will allow SMEs within Gucci’s supply chain to access ad hoc financing lines introduced by Intesa Sanpaolo with the S-Loan formula and inspired by ESG indicators.
Said to be the first of its kind in Italy, the agreement will help SMEs to implement concrete actions and interventions, aligning with the guidelines of the National Recovery and Resilience Plan (PNRR), Gucci and Intesa Sanpaolo said in a joint press release.
“This is an important step because only together—public and private sectors, large companies and SMEs—can we reach the critical goals for society and for Italy advocated by the National Resilience and Resilience Plan,” said Marco Bizzarri, president and CEO of Gucci.
In the last 12 months, more than 150 suppliers in the Gucci supply chain, based in Italy, benefitted from over €230 million in loans provided by Intesa Sanpaolo.
