Finance deal will help Italian shoe firms
02/12/2013
Loans to help meet the cost of participation in Micam in Milan, and in overseas events that Assocalzaturifici runs in markets that present strong opportunities for growth, have been available to footwear companies from Italy-based banking group UniCredit for some time. Assocalzaturifici announced at the end of November that the arrangement will continue.
Perhaps even more importantly, UniCredit will now help Italian firms to finance the production cycle of orders they generate at Assocalzaturifici events. In other words, the help available to companies will make it easier for them to attend the exhibitions, meet buyers, secure orders, go home, buy leather and other materials, make and deliver the shoes and invoice their customers.
Cash-flow pressures have been one of the biggest hurdles these companies have had to overcome in recent years, with the Italian economy still struggling to overcome the economic crisis that began in 2008 and many banks displaying a reluctance to give smaller companies the help they need. The agreement between UniCredit and Assocalzaturifici is aimed at easing some of these pressures.
On making the November announcement, Assocalzaturifici president, Cleto Sagripanti, called it “concrete help for member companies”.
Share this story:
