Generali Italia|TAM TAM TALKS| Giuseppe Miroglio | AZIENDA E OPEN INNOVATION: IL MODELLO MIROGLIO

Thank you, Luca. I'm very happy to share a topic close to my heart: innovation and open innovation, specifically the union between traditional textile companies and the world of startups. I believe there are many mutual benefits for both. I speak in a dual role: as president and shareholder of Miroglio Group, and as a board member of Cariplo Factory accelerator.

I'll start with the group that bears my name. I am the grandson of the founder, and we turn 70 this year. Our family business has about 700 million euros in revenue, operating along the textile-apparel chain, focusing on fashion retail with six womenswear brands in over 1,000 stores across Europe and online. Our industrial roots are strong: Miroglio Textile is a leader in Europe for printed fabric, with a large printworks in Alba, serving major chains like Inditex/Zara. We have deep knowledge of the textile industrial sector.

All our innovation stems from textiles, the most traditional sector. Ten years ago, the Italian textile industry was in deep crisis due to Chinese imports. Miroglio Textile was struggling. We chose to double down on innovation, investing heavily in digital printing. That bold investment succeeded, turning the company profitable and sustainable. The lesson: if we can innovate in textiles, there are enormous opportunities for innovation throughout the textile-apparel value chain.

We broadened our horizons to the world of innovation. Today's exponential tech evolution brings both opportunities and threats. Technology has become democratic: individuals are often more advanced than companies. Startups are fascinating but also potentially disruptive, capable of capturing entire markets unnoticed.

We addressed innovation by partnering. I met Riccardo Donadon, and we share the view that startups are not just a financial model; in Italy, with strong manufacturing, open innovation is key to modernizing traditional processes. We launched the Miroglio Innovation Programme, which fosters internal innovation and connects startups with the company. We have two startups: The Colossus, a platform for custom printed fabric (same fabric we sell to Zara at a lower price due to personalization), and Taylor Italy, a platform for customizing women's apparel, similar to Nike's sneaker customization. We invested in both and integrated them.

We have seen mutual benefits. Startups gain visibility through our retail network, CRM, and press contacts. Taylor Italy launched in our Milan flagship store. Supply chain sharing provides a boost. The company benefits from low-risk experimentation: if a startup fails, our main brands are unaffected, but success can bring huge returns. We are also bringing personalization to our traditional brands through Taylor Italy.

Startups bring digital competencies that our traditional company lacks. Attracting founders and team is very valuable. Culturally, startups show a different, faster way of doing business, challenging our processes. But we must avoid over-structuring the startup, and the startup must balance future vision with present sustainability. Despite challenges, I believe this collaboration is vital, especially in Italy where manufacturing is key. Open innovation is essential, and startups' role will increase. Thank you.