FGN Consulting has been officially shortlisted as a finalist for the 14th edition of the Le Fonti Awards® Italy, one of the most prestigious events dedicated to the economic, financial and legal sectors. This nomination represents a significant acknowledgement for us, once again recognising our company as one of the leaders in its sector.
Golden Goose, the Italian luxury brand founded in 2000 in Venice, is revolutionising the trainer world with its characteristic lived-in look. Born from the founders’ passion for research, travel and art, the brand combines Italian sartorial tradition and innovation. The ‘distressed’ trainers have become a style icon, worn by celebrities such as Taylor Swift and Selena Gomez. With flagship stores in key cities such as New York and Paris, Golden Goose has reached an international clientele and recorded revenues of €587 million in 2023.
Sovereign wealth funds, managed by government agencies, are powerful financial instruments that invest a country’s excess resources in financial markets to ensure long-term economic stability. Originally created to manage wealth from the export of natural resources, they now control over USD 12.8 trillion in diversified assets. Among the best known funds are Norway’s Government Pension Fund Global and the China Investment Corporation.
Chiara Ferragni faces a significant crisis with the closure of the Milan flagship store in August, after the ‘Pandoro Gate’ scandal and the termination of contracts with companies such as Pigna, Safilo and Pantene. The resignation of Fabio Maria Damato, general manager, further highlights the crisis. Ferragni handed over operational delegations to her mother, Marina Di Guardo, in order to stabilise the management of the company. Despite the difficulties, the brand retains a strong following and potential.
In the first half of 2024, Stellantis’ production in Italy declined by 25.2 per cent, with 303,510 vehicles produced. Cars decreased by 36%, while commercial vehicles increased by 2%. Pomigliano saw an increase of 3.5%, but Melfi and Mirafiori suffered declines of 57.6% and 63% respectively.
Italy, eliminated from the 2024 European Championships, could have benefited economically from a victory. The FIGC estimates that a triumph would have increased the GDP by 0.7 per cent, or around EUR 12 billion. The victory would have increased domestic consumption, improved consumer confidence, stimulated sporting activity and improved the international perception of the country, with positive effects on exports and tourism. The expected economic growth would have affected several sectors, bringing widespread benefits to the Italian economy.
Despite the economic difficulties of 2023, the managed real estate sector grew by 5% globally, with assets of EUR 4,650 billion. In Italy, the NAV increased by 5.3%. Scenari Immobiliari’s 2024 Report predicts further growth in 2024, with a more stable and robust real estate market.
The European Football Championship is an event of great economic and social significance for the host countries. These tournaments bring significant investments in infrastructure, such as the renovation of stadiums and the modernisation of transport, with lasting benefits for the local economy. EURO 2016 in France generated a turnover of EUR 1.9 billion, while EURO 2020 closed with almost EUR 1.8 billion, despite the pandemic.
WeWork, the coworking giant, is undergoing debt restructuring under Chapter 11 protection in the US, with a plan that also involves Italy. The company declared bankruptcy in November and embarked on a financial and operational restructuring that included a $450 million capital injection. In Italy, WeWork reduced its locations in Milan, but saw a 9% increase in occupancy in the remaining locations. Globally, the reorganisation led to significant savings on rents and a reduction in financial commitments. Under the new agreement, the senior creditors will receive control of WeWork in return for a significant investment.
