In an initiative that is the first of its kind in Italy, the two companies combine their expertise to launch an innovative model to support exceptional, Made in Italy manufacturers within the Gucci supply chain.
Gucci and Intesa Sanpaolo bank have established an agreement—the first of its kind in Italy—to aid in the implementation of ethical and responsible practices throughout the House’s supply chain. The innovative initiative represents the next step in the ‘Sviluppo Filiere’ program, which launched amidst the Covid-19 emergency in May 2020, and through which more than 150 suppliers in the Gucci supply chain, based in Italy, benefited from over €230 million in loans provided by Intesa Sanpaolo in the first 12 months.
The project provides small and medium-sized enterprises of excellence within the Gucci supply chain facilitated access to loans at better terms and conditions to launch their own industrial evolution in accordance with the principles of the green revolution and ecological transition supported by Italy’s National Recovery and Resilience Plan, geared towards the pursuit of crucial objectives such as:
- Energy efficiency and saving (waste reduction or increase in recycling, reduction of water usage and of the generation of effluents; reduction in the use of hazardous chemical materials; reduction in single-use plastic packaging; recovery of raw materials);
- Introduction of green mobility/logistics projects;
- Development of facilities producing energy from renewable sources;
- Adaptation of business models to facilitate the development of a circular economy;
- Activation of initiatives to increase the female employment rate in the company and support their professional growth through the creation of training programs to acquire new skills;
- Definition and implementation of welfare policies and instruments aimed at ensuring equality and reducing the gender gap (opportunities for growth in the company, equal pay for same-level roles, policies for managing gender differences and work-life balance, maternity protection);
- Adoption of a transparent system for certifying gender equality and activation of initiatives to develop and raise awareness on the topic.
“We are proud to inaugurate the first supply chain agreement for the fashion sector today with Intesa Sanpaolo in an initiative that will allow the Gucci ecosystem to take yet another step in the industry’s sustainable revolution. This is an important step because only together—public and private sectors, large companies and SMEs—can we reach the critical goals for society and for Italy advocated by the National Resilience and Resilience Plan. This is a ground-breaking project: everything we have always hoped to achieve, as businesses, to promote the objective of a fairer society, is now within reach. Social and environmental sustainability is a duty: carbon neutrality and equal opportunities are part of a single infrastructure, according to a system-country logic.”
Over the years, Gucci has been working closely with its suppliers to ensure that environmental and social best practices are embedded throughout its supply chain, and this new agreement is further proof of the House’s efforts towards supporting transformation across the entire supply chain.