The Italian textile and apparel manufacturers Marzotto S.p.A. from Valdagno plan to spin off their real property assets and group them together under a separate real estate company. The company's president Innocenzo Cipolletta announced in front of analysts that the spin-off was geared towards enjoying a higher return on the company's property in land and buildings.
In the context of these streamlining and restructuring measures, serious consideration is also underway to sell the company's Arezzo-based subsidiary Lebole. Lebole mainly focuses on men's wear for the medium segment for the Italian market, but is not part of Marzotto's core business in the upper quality and price ranges, the group's main strategic sector.
In the year 2000, Marzotto generated a group turnover of EUR 1,607 m, a 15 % increase, while the operating result improved by EUR 207 m or 34 % and net earnings by 71.4 % to EUR 132 b as compared to the previous year. Growth was mostly achieved through the sales and revenue figures presented by the German subsidiary Hugo Boss.