A 2 million-bond to grow, issued by Turin-based Foglizzo Leather, which will use the sum to build a new production site in Piedmont. Production capacity: 1 million square meters of leather. “Foglizzo is entering a very important new phase, involving organizational, production and strategic adjustments”, say Paolo and Marco Foglizzo co-CEOs of Foglizzo Leather. The company was featured at the latest edition of Lineapelle Interiors last February (in photo).
2 million minibond
The bond issued by Foglizzo Leather was underwritten by UniCredit and Mediocredito Centrale, the same ones that last year launched the “Basket Bond Made in Italy program”, within which the one issued by the Piedmont-based company is included. The €2 million bond has a 6-year term, and the money will be used “to build a new plant in Piedmont, which, thanks to innovative processes, will allow Foglizzo to produce in-house more than one million square meters finished leather, in an increasingly sustainable way as well as develop new solutions“, a note reads. Foglizzo designs and develops leathers for marine, aviation, automotive, luxury boutique, and residential and hotel segments.
Balancing resources and securing funds
“We are very pleased with this step and with the support of UniCredit, which has now been our loyal partner for more than 20 years”, say Paolo and Marco Foglizzo. “The bond is part of a strategy aimed at balancing resources and securing funds to support our growth plans. Foglizzo, while operating in an international super luxury niche, has been growing for 15 years at a very fast pace”. According to Bebeez, in 2023 the Turin-based company generated a revenue of about 7.5 million euro (6.4 million in 2022), with an Ebitda of just under 500,000 euro and net cash of 1.4 million.
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