Sandro Veronesi (entrepreneur)

Sandro Veronesi is an Italian entrepreneur, and founder of the Calzedonia Group.^[1] This corporation consists of Calzedonia, Intimissimi, Tezenis, Falconeri, Signorvino, Atelier Emé and Cash & Carry. According to the Forbes list of billionaires, Sandro Veronesi is one of the richest people in the world, with a net worth of over one billion dollars. His net worth in 2013 was estimated at $1.8 billion.^[2]

Sandro Veronesi
Born	1959 (1959) (age 57) Ala, Trento, Italy[1]
Residence	Verona
Citizenship	Italy[2]
Education	University of Verona[2]
Occupation	founder of Calzedonia
Known for	Calzedonia, Intimissimi, Tezenis, Falconeri, Signorvino, Atelier Emé Cash & Carry
Net worth	US$1.8 billion (est.) (Forbes, March 2013)[2]
Website	http://www.calzedonia.it

Early life

Veronesi was born in Ala, Trento, Italy, in 1959. He gained his High school Diploma from Liceo ‘Galileo Galilei’ and he graduated 'cum laude' in 1983 in Economics and Business in Verona. On completion of his degree, he began work at the Golden Lady SpA, an Italian company leader in the production of pantyhose, founded by Nerino Grassi. Sandro Veronesi married Nadia Grassi, one of the two daughters of Nerino Grassi. Nadia Veronessi is also one of the main Shareholders of Calzedonia Group (with a 15% share).

Business career

Veronesi was added to the Forbes Billionaires list in 2013.^[2] He is the founder of the Calzedonia Group, an Italian company that sells lingerie, stockings and swimsuits through its Calzedonia, Intimissimi and Tezenis brands. It also has a majority position in Falconeri, an Italian clothing company known for its cashmere knitwear. Veronesi's first job after graduating from the University of Verona was with Golden Lady, an Italian hosiery company. He started Calzedonia in 1987 while still working at Golden Lady. The company originally focused on tights and stockings. In the mid-1990s it diversified to include the lingerie and underwear sectors. In 2013 there were more than 3,000 Calzedonia stores throughout Europe and the Middle East. ^[3]

Early career

After university, Sandro Veronesi began to work in 1984 at Golden Lady Spa, the company of pantyhose founded by Nerino Grassi. In 1987, when he was only 27 years old, he founded Calzedonia Spa, while he was still working in Golden Lady as a General manager. In 1993 the partnership between the two entrepreneurs broke and he decided to dedicate exclusively to his own Calzedonia, focusing on the objective of producing and selling high quality products at a fair price. In 1996 Calzedonia Group expanded with Intimissimi ( underwear for women and men) with 481 Million in Revenues (+8%) and in 2003 with Tezenis (underwear for the whole family) with 401 Million in Revenues (+25%). In 2009 Calzedonia Group acquired the majority share in Falconeri (knitwear and cashmere). Sandro Veronesi is also the owner of the brand Cash & Carry by Calzedonia Group for the sale of products in stock.

International activities

The stores of Calzedonia, Intimissimi and Tezenis are about 3,000 in more than 30 countries, with factories in Italy, Eastern Europe and Sri Lanka. The Calzedonia Group has about 20,000 employees, with 2,200 only in Italy . Competitive positioning showed a significant leap in sales, which rose from €77 million in 1998 to €1,295 million in 2011.^[1]

The organization adopted by the entrepreneur originally from Trento is verticalised: it goes from the head to the distribution in single-brand stores through a concentrated production to countries where labor is cheap. The group has four production subsidiaries in Sri Lanka, where it produces the bulk of the production of lingerie, two in Croatia, one in Romania, one in Bulgaria, one in Serbia. This is in addition to three historic sites in Italy.^[7]

Other activities

The hotel "La Torre", within the business group Calzedonia, is a luxury hotel complex created initially by Studio Botturi Castiglione, aimed at restoring an old rural complex. It was subsequently purchased by Sandro Veronesi.

The hotel is located in Verona, with good connections to the city and Verona Villafranca Airport, also near Lake Garda. The hotel targets both business and holiday customers, and positioned for local tourist activities like visiting the local vineyards.^[8]

In 2013, Sandro Veronesi launched the SignorVino chain of wine bars, with the intention of transferring know-how from his experiences in the textile industry. This includes developing the same type of organization and a centralized warehouse management (in Verona).^[9] Veronesi created the foundation San Zeno in 1999 through which a part of Calzedonia profit is reinvested in education, training and work for those who are in need and cannot afford it. Furthermore is a counselor for the advisory committee of Assofranchising.^[10]

Recognition

1. He received "The Museo Nicolis Award" because of the competitive price/quality ratio, style and design and the use of avant-garde materials and fabrics on October 30, 2008.^[11]
2. He was awarded the Honor of "Cavaliere del Lavoro" ("Order of Merit for Labour", a recognition for high employment and economic strategy), on May 29, 2009.^[1]

References