An abandoned building formerly owned by the Agenzia delle Entrate now in the portfolio of Cdp Real Asset, becomes the new “home” of Yves Saint Laurent’s leather goods in Scandicci, in the heart of the Florentine luxury handbag district. In close proximity to the manufacturing facilities of Gucci, Prada, Montblanc, and Dior, the Saint Laurent Atelier Maroquinerie has been inaugurated, encompassing 28,000 square meters dedicated to product development, modeling, prototyping, material and technical research, cutting, production, and storage for handbags, luggage, and small leather goods. The investment of €30 million, made by Cdp to transform the disused building into a bright and functional production facility with a view of the hills, has enabled YSL to lease it for 15 years, extendable up to 27, with a purchase option. Currently, 500 people (with an average age of 37 and 53% women) work in the atelier, including 200 hired in the last two years. Another 200 employees are expected to be recruited by 2025, as explained by Francesca Bellettini, President and CEO of YSL and responsible for brand development for the entire Kering Group. The French fashion house defines the structure as a “center of excellence” for the high level of expertise concentrated here, but also a “center of competence” because it houses a company school to train artisans and technicians, becoming a strategic channel for future employment needs.

Saint Laurent was the flagship brand of the Kering Group in 2022, with a turnover of €3.3 billion (+31%), but is experiencing a slowdown in 2023 (-12% at comparable rates in the third quarter). “This center will play a vital role in the development of Saint Laurent, which generates 70% of its revenue from leather goods,” declared Bellettini while cutting the ribbon alongside the President of the Tuscany Region, Eugenio Giani, the Mayor of the Metropolitan City of Florence, Dario Nardella, the Mayor of Scandicci, Sandro Fallani, and the CEO of Cdp Real Asset, Giancarlo Scotti. “Here, creativity will be able to express itself to the fullest – added the manager – also because we are in a territory with a very long tradition in leather goods, which has allowed us to achieve these results.” Cdp expressed great satisfaction with the project, emphasizing that it embodies the mission of revitalizing disused buildings and areas. President Giani and Mayor Nardella recalled the historical, political, and industrial relations between Italy and France, while Mayor Fallani highlighted a redevelopment goal that few believed in a few years ago: giving life back to a public building, known as “Il Palazzaccio,” built 30 years ago and never used.

Source: Il Sole 24 Ore