The numbers are reassuring. Because if it is true that turnover has dropped by 23% on an annual basis, cash assets are instead growing. Bonaudo, a tanning group headquartered in Lombardy, has gone through 2020 with such financial strength as to make it look with confidence to the near future. This was explained by patron Alessandro Iliprandi (photo, on the right) during the second appointment with “Meet the Champion”, the digital event of L’Economia, by Corriere della Sera and ItalyPost.
How Bonaudo went through 2020
The year, ça va sans dire, was disastrous due to the effect of the pandemic on the luxury industry. The 46 million euros turnover by Bonaudo in 2020 are down on an annual basis. But at the top of the group, they can cheer up for a drop below national average. While profitability “fell by 30% – reports the economic insert of CorrSera – financial solidity remained intact. Indeed: cash assets which were 300,000 euros in 2019, rose to 9.7 million euros. Useful resources to get out of the crisis which, for the sector, seems to extend into 2021, too”. How? “With wise long-term management”, replies Iliprandi.
The value of sustainability
According to Bonaudo, as well as for the entire Italian supply chain, sustainability is the very essence of work. “This is not greenwashing, we have always been talking about green – he says -. And it cannot be a fad: it is an identity”. It is, moreover, an “undisputed immaterial factor of success”, as CorrSera defines it.
“We are industrialists with an artisan soul – continues Iliprandi -. Fashions and consumption change, but we want to continue to produce excellence and quality, while at the same time guaranteeing increasingly higher ecological and innovation standards. It is essential to never feel like you got to the top, and to continue to question yourself”. Also, part of the debate on leather is the age-old (and often futile) vegan protest, which does not want to see animal materials used in fashion and design. “As long as we continue to eat meat, there will be no lack of raw materials”, concludes Iliprandi. Because leather is a by-product of animal husbandry, that tanning inserts into an upcycling process.
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