Finance and sustainability. Furla joins the group of companies that tied loans to sustainability objectives. The leather goods’ brand was provided 25 million euro by Unicredit to accelerate its sustainability strategy. “This operation (which has a 3-year duration), further strengthens the financial structure of the group – commented Mauro Sabatini, CEO of Furla -, mitigating the risk tied to the current market situation”.
Simply put, this type of financing is called “sustainability-linked”. It’s characterized by a rewarding mechanism (reduction of interest rate), based on the achievement of specific sustainability targets. The latter will be verified by indipendent sources. “The value of sustainability is globally recognized and shared by the finance world – continues Mr. Sabatini, according to TeleBorsa –. This operation signifies an additional stimulus for Furla to reach its ambitious objectives that aim at creating a more sustainable economy”.
This type of loans tied to green goals has been received by many luxury companies. In Italy, Prada did it 3 times: once in 2019 for 50 million euro, 75 million euro in 2020 and 90 million. Moncler got one for 400 million euro, Salvatore Ferragamo (250 million), Tod’s (max 500 million). Businesses abroad prefer the so-called “green bonds”: Burberry for 300 million pounds and VF Corp for 500 million euro.