Convegno Filiere Strategiche - Intervento del Dott. Enrico Moretti Polegato

Essentially, these two concepts are contained within each other. The heart of the relaunch was the rediscovery of the intrinsic values of the Diadora brand. For example, we realized that increasingly it is necessary for a brand to be human, likeable, inclusive, and to make all stakeholders feel part of the project. The most important values of Diadora are sportiness—it's a historic sports brand—and, beyond sustainability, a very important value is Italianness. We decided to invest in this concept of Italianness of Diadora, both by developing products with Italian know-how and Italian design, and by bringing back to Italy part of the production that had been outsourced in the past to various places around the world, from Asia, Eastern Europe, to the Mediterranean basin. Now 6% of Diadora's production is done in Italy. So this 'coming back home' has been, from a managerial standpoint, a complex undertaking, but it came naturally within the overall strategy. It came naturally because it was simply being ourselves, but also because Diadora is lucky to be based in a historic district for sports footwear, one of the earliest exponents. When we decided to bring production back here, we started from fertile ground with strong know-how. And I can say with a bit of corporate pride that we are contributing to the renewal and continuation of this know-how in terms of skills.

Having brought Diadora back to play an important role in the development of this district. Then from the economic-managerial point of view, the most important thing is the contribution to the identity of the brand and the employment impact on the territory, which are also there.

Sustainability is innovation, innovation makes sustainability possible. Coming back to innovation strictly speaking, our latest technologies in terms of cushioning, indigo, lightness of the product have had great public success. So, in a sector dominated by some global brands, but where a very identity-driven brand has returned to its origins, also through a rights issue, it has made its space on the market. We went from 70 million to about 160 million in turnover. So this operation is having success. We are very happy, myself and my team of about 200 resources. So practically, we have more than doubled, almost tripled revenues. And then there are the licenses, which are another important part. In some countries, Diadora products are made and sold by our licensees with royalty payments. I am talking about markets like Argentina or others.

I believe the most important thing, when doing the work of an entrepreneur but also any other job, is to always have a long-term project and make decisions based on that long-term project, and to be yourself. Because, from the perspective of brand perception, a brand that shows it is itself, that believes in being itself, is more credible and more appreciated. But also because work occupies a large part of the day, and playing a role for most of the day would be an added difficulty to a job that is not simple and would make it physically less tolerable. So, to conclude: long-term and long-term.

From a geographical point of view, the market that is giving us great satisfaction and in which we will continue to invest, because we are growing even in triple digits, is the United States. Diadora's presence in the US has exploded in the last two years thanks to high-tech running products. And the guidelines are to continue investing in the set of brand values: Italianness, sustainability, and ethical mastery.

At the level of the type of products brought back to production in Italy, there will be news soon. I have been advised not to anticipate, but there will be.

Thank you very much.