Latest news with #BocconiUniversity
NZ Herald
2 days ago
- Business
- NZ Herald
For a decade, a Chinese tailor worked 13-hour days making high-end garments near Milan
The crackdown, led by Milan's corporate court and the labour-crimes unit of the Carabinieri military police, has snared contractors linked to five well-known fashion labels including Valentino, Armani, and Dior. Loro Piana, owned by French luxury powerhouse LVMH Moët Hennessy Louis Vuitton SE, became the latest last week, and was placed under court supervision for up to a year. 'There is already a reputational issue in the fashion industry, which started with prices spiralling unreasonably,' said Stefania Saviolo, a lecturer on fashion and luxury management at Milan's Bocconi University. 'These investigations not only damage the brands involved, they affect all of Made in Italy as a system.' Loro Piana, part of LVMH since 2013, denied wrongdoing and said it will co-operate with authorities. The company said it terminated relations with the supplier within 24 hours of being informed of the contractors' existence. The fragmented, mostly family run structure of high-quality Italian manufacturing 'can pose challenges in transparency and oversight', said Toni Belloni, president of LVMH Italy. The group has strengthened controls and revised its internal charter, he said in a statement to Bloomberg News. 'However, areas of fragility remain, so we must work to improve our practices.' The fashion industry is one of Italy's biggest, accounting for about €96 billion worth of Made in Italy products in 2024, according to industry group Camera Nazionale della Moda. The vast majority are destined for overseas markets. Yet the tailor's case shines a light on the treatment of workers who make garments that can cost thousands. He worked from 9am to 10pm daily through to late 2024, when his 'caporale', or boss - also a Chinese migrant - stopped paying him for unknown reasons, according to the court documents. After repeated demands for his wages, a confrontation ensued. The employer punched the tailor and beat him repeatedly with an aluminium tube, the documents said, leading to a criminal complaint. Persistent Lapses Past enforcement efforts have failed to stamp out labour abuses. 'These cases have been increasing in the last few years, with more big groups taking control of smaller Italian companies and starting outsourcing part of the production,' said Roberta Griffini, secretary for the Filctem CGIL Milano union. Responsibility is sometimes hard to determine because subcontractors work for more than one fashion group, Griffini added. Britain has also cracked down on illegal sweatshops, particularly small factories operating in cities such as Leicester. A 2021 United Kingdom report found companies in numerous industries couldn't guarantee their supply chains were free from forced labour. For fashion producers in Italy, the supply chain should be short and closely monitored, said Saviolo of Bocconi University. Younger consumers in particular are paying more attention to brand credibility. Milan is the locus of the sprawling fashion industry in Italy, housing about one-fourth of the nation's 600,000 fashion workers across some 60,000 companies, according to Camera Nazionale della Moda. The Lombardy region's dense ecosystem of design studios, tanneries, and sample makers gives brands unrivalled speed but also shelters what prosecutors called 'a generalised manufacturing method' in which legitimate subcontractors parcel out work to micro-factories operating from converted garages and semi-legal industrial parks. Chinese-owned firms make up a significant part of this complex. About 20% of Lombardy's 10,000-plus textile workshops and factories are Chinese-owned, according to Milan's Chamber of Commerce. The area has drawn a large number of Chinese immigrants, driven by small-business opportunities, globalisation of the fashion industry, and growing family ties. A Loro Piana SpA label on a cashmere pullover. Photo / Alessia Pierdomenico, Bloomberg via the Washington Post Falling Sales The judicial clampdown in Italy is unfolding against a jittery global backdrop, with demand falling and a United States-led tariff war threatening to magnify export costs. The personal luxury-goods industry, worth €364b, lost 50 million customers in 2023 and 2024, Bain estimated last year. The sector will shrink between 2% and 5% this year, according to the consulting firm's June follow-up. Italy's fashion industry was already grappling with falling sales, inflation and international tensions. Brands squeezed by softer demand and volatile costs have doubled down on 'near-shoring' quick orders to Lombardy's workshop belt to protect margins. That very strategy, say prosecutors, is fuelling the race to the bottom that the courts are now trying to halt. Investigators traced Loro Piana's knitwear to intermediaries which subcontracted to factories where illegal migrants worked 90 hours a week and slept next to their sewing machines. The judges said the firm 'negligently benefitted' from illegal cost-cutting. The judicial administrator appointed last week is tasked with monitoring Loro Piana management's progress towards addressing its supply chain. The issues have been similar at other luxury brands, including Giorgio Armani Operations, Dior Manufactures, Valentino Bags Lab and Alviero Martini: opaque layers of small subcontractors, paper safety records, and a workforce of mostly undocumented Chinese migrants. Armani, Dior, and Alviero Martini were released of court oversight after implementing measures such as real-time supplier audits. The unit of Valentino, which is majority owned by Mayhoola of Qatar alongside partner Kering SA, is still subject to court monitoring. The Italian Competition Authority has also been involved. In May it closed an unfair-practices probe into Dior, securing €2 million in funds for anti-exploitation initiatives and requiring the company to improve supplier vetting. Dior, also part of the LVMH orbit, noted then that no infringement was established, and said it is dedicated to high standards of ethics and excellence. Armani Group, still under investigation by the competition authority over alleged unfair commercial practices, said the allegations have no merit and its companies are co-operating with authorities. Greater co-ordination In Milan, co-ordination has tightened with an accord in May between the Milan Prefecture, the fashion chamber, trade unions, and leading brands. The pact sets up a shared database of vetted suppliers and commits signatories to regular certifications. The outcome of the Loro Piana case for now rests with updates to the bench on its progress. LVMH's Belloni said the group had carried out more than 5000 audits in Italy and introduced a stronger control body. While the prefect's new protocol is a 'building block', deeper change will take time and a more collective effort is needed, he said. As for the tailor, the Milan prosecutor is now trying to get him hired legally, according to a person familiar with the matter, who asked not to be named discussing a personal matter. This would require the employer to make pension contributions, pay taxes, and provide standard benefits. - With assistance from Antonio Vanuzzo, Deirdre Hipwell and Angelina Rascouet.
Yahoo
12-06-2025
- Politics
- Yahoo
Europe Needs Less "Hypocrisy" to Be More Effective: Former Italian PM
Europe must rein in "excessive nationalism", and pay more attention to the Draghi Report on European Union competitiveness, according to Former Italian Prime Minister and Bocconi University President, Mario Monti. Monti says most of the obstacles that stand in the way of a unified single market are "in the hands of member states". He adds that defensive actions have been taken to "preserve political power by some governments" and that Europe must reduce the degree of hypocrisy in order to become more effective. Monti spoke to Francine Lacqua on The Pulse. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
12-06-2025
- Politics
- Bloomberg
Europe Needs Less "Hypocrisy" to Be More Effective: Former Italian PM
Europe must rein in "excessive nationalism", and pay more attention to the Draghi Report on European Union competitiveness, according to Former Italian Prime Minister and Bocconi University President, Mario Monti. Monti says most of the obstacles that stand in the way of a unified single market are "in the hands of member states". He adds that defensive actions have been taken to "preserve political power by some governments" and that Europe must reduce the degree of hypocrisy in order to become more effective. Monti spoke to Francine Lacqua on The Pulse. (Source: Bloomberg)
CNBC
17-05-2025
- Business
- CNBC
42-year-old American pays $1,850 a month for a 3-bedroom apartment in Italy: 'People actually use their vacation time here'
Back in 2003, I spent a semester in L'Aquila, Italy and fell in love with the country. That study abroad experience changed the trajectory of my life. Two years later, I returned to pursue my master's degree in marketing management and communications at Bocconi University in Milan. Fashionable, fast-paced Milan was miles away from the sleepy, neighborly L'Aquila, and the city's nightlife actually reminded me of my hometown of Miami. After I finished school, I knew I wanted to stay. It was the beginning of a two-decade-long, and counting, love affair with Italy. I moved here permanently in 2012 after I married my Italian husband, Diego. Today, we live in Milan with our six-year-old son, Lorenzo. I run a company called Doing Italy to help other Americans make a home for themselves here. We rent a 1,227-square foot 3-bedroom, 2-bathroom apartment for about $1,850 a month. We've lived here for about three years. We found this place when Lorenzo was three. The apartment hadn't changed much in the last 40 years, so we set about renovating to make it feel more current, and more like us. In the United States, doing significant work a rental might be frowned upon. But in Italy, there are government incentives, like tax credits, for people renovating their homes, even renters. Our landlord also gave us eight months of free rent for renovating the apartment The renovations cost us about $41,000, but between the government rebates and the rent pause, we saved roughly $33,400. This bathroom is one of my favorite rooms, but it required a ton of work. We gutted it completely, changed the faucets and added the hexagon tiles, which I love. We sourced the tiles from an adorable, friendly and family-owned company in Tuscany. When we got here, the kitchen had not been renovated in about 40 years, so it needed a lot of work. We actually had our movers bring not just our kitchen wares from the old apartment, but the appliances, too. We tore out the sink and the stove from our old apartment, and had them installed in the new place. It was a memorable transition. We also added a few new cabinets and a new countertop. We demolished the existing wall tiles, but kept the ones on the floor. We also closed off two lateral doors that used to open up into the kitchen, to give us more countertop space. To open up the living space, we knocked down an entire wall. The living room has natural hardwood floors that we sanded and added a lighter stain. Since the flooring in that corridor space was tile, we sourced a bit of wood flooring to best match the rest of the room. The bookshelves, the grey couch and the lighting fixture are some fun focal points of the space. My son's favorite part of his room is the giant map that we put up on one side of the wall. He loves pointing out all the different locations on it. I love it because it helps bring all of our worlds together in one place. One of the most important additions we made to the apartment was the air conditioner in our bedroom. I grew up in Miami and my family is from the Caribbean, so I can handle a little heat. My husband on the other hand, not so much. I also love our dresser, which was handmade by my husband's great-grandfather in the 1800s. It needed a little bit of work to bring it back to life, so we had it restored. When we go to the market, there are so many quality ingredients to choose from. Fresh, delicious produce is relatively easy and accessible here. We source items like pasture range eggs, milk and butter either farms that are right outside the city, or from the farmer's market in the city. Leisure time is also a serious business in Italy. A perfect example of this is the evening ritual and tradition of the aperitivo. As soon as the workday ends, people will stop into a café for a glass of wine and food for an hour or two. It's deeply ingrained culturally, so much that whenever we leave the park after school, my son says "facciamo un 'peritivo'" — although he very adorably doesn't pronounce the "a." We'll head over to a neighborhood spot with our friends. The kids get their own table with juice and chips, the grown-ups will sit at our table with our adult beverages, and no one looks at us like we're inconveniencing them. I love raising my son in Milan. Having kids here doesn't mean your social life ends. There are a ton of parks, galleries and museums, and a wide variety of family-friendly activities. On average, Italians get four to six weeks of paid vacation every year, and unlike in the U.S., people actually use their vacation time. From Milan, we can get to Lake Como or Genova, on the seaside, in under two hours, and those are just the easy day trips. I grew up in a middle-class immigrant family. The fact that I now get to regularly vacation in places like Italian Dolomites and spend weekends in Vienna is not something I take for granted. I feel incredibly blessed, and I couldn't be happier to be here.
Daily Mail
12-05-2025
- Daily Mail
How scientists correctly 'guessed' the new Pope: Study identified Robert Prevost as the strongest name in the Conclave - before his appearance on the balcony of St. Peter's Basilica
Catholics around the world rejoiced on Thursday as the new Pope was revealed following the death of Pope Francis. Chicago-born Robert Prevost – to be known as Pope Leo XIV – became Francis' successor after two days of voting inside the Sistine Chapel. The 69-year-old Pontiff speaks five languages, spent decades working in Latin America and Europe, and has a Bachelor of Science in Mathematics. Dubbed the 'Latin Yankee' by the Italian press, he's a far cry from the more traditional papal image – which is perhaps why bookies and AI alike failed to correctly determine the result. However, a team of scientists claim to have managed to do so using network science – the academic field which studies vast and complex networks. In an exhaustive study published online, they analysed 'the network of the conclave' to correctly find the successor to Pope Francis before his announcement. Study author Leonardo Rizzo, PhD candidate and data scientist at Bocconi University, said on X: 'We "guessed" the Pope using network science. 'We relied on three criteria that determine the 'prominence' of a cardinal in the ecclesiastical network.' Chicago-born Robert Prevost - to be known as Pope Leo XIV - became Francis' successor after two days of voting inside the Sistine Chapel. Pope Leo XIV appears at the central balcony of St. Peter's Basilica for his first Sunday blessing after his election, in St. Peter's Square, Vatican City, Vatican, on 11 May 2025 When a Pope dies or resigns, cardinals under the age of 80 are eligible to vote in the upcoming papal election (the 'conclave'). Voting takes place by secret ballot under Michelangelo's famous painted ceiling at the sacred Sistine Chapel in Vatican City. Four rounds of balloting are taken every day until a candidate receives two-thirds of the vote – and a new Pope is chosen. The final ballots are burned with chemicals that produce white smoke which emanates from the chimney of the Sistine Chapel, as seen on Thursday. The Italian researchers call this 'the most classic of rituals where mystery and spirituality intertwine with history'. There's no doubt that the process of electing the Pope is a secretive one, aware from the glare of the world's public and media. Behind the closed doors of the Conclave, dynamics are at play that resemble those of a presidential election or the appointment of a CEO by a board of directors, they say. 'Even in the church, as in any human organization, relationships matter,' said study author Giuseppe Soda, professor of social network analysis at Bocconi University. 'The more connected, listened to, and central an individual is in the flow of information, the more likely they are to become a unifying figure.' The experts analysed interpersonal relations between the papal conclave, the gathering of the College of Cardinals convened to appoint the Pope. This let them work out who works with whom and in what contexts, strong bonds of 'loyalty and recognition' within members, and 'informal relationships' as inferred from media sources. They created a map of ecclesiastical power capable of anticipating the strongest names from the College of Cardinals – with Robert Prevost (Pope Leo XIV) emerging as the key figure in their metrics of 'status'. In this metric, he ranked ahead of Lazzaro You Heung-sik from South Korea, Arthur Roche from the UK and Jean-Marc Aveline form France. However, for two other metrics – 'information control' and 'coalition building capacity' – they picked other candidates (Anders Arborelius from Sweden and Luis Antonio Tagle from the Philippines, respectively). 'The elected Pope scored first in our metrics of Status (eigenvector centrality),' added study author Leonardo Rizzo on X. 'While we weren't try to "guess", our aim was to show that a robust methodology, grounded in sound theory, can illuminate even the most obscure corners of human behavior and organizational dynamics.' The trio insist they are 'scientists, not bookmakers' and the election is the result of 'many variables' including 'spiritual inspiration' and diplomatic skills. 'The election of the Pope remains a process steeped in sacredness that commands great respect,' said Professor Soda. 'Science, in this case network science, can only contribute to improving our understanding of the human processes that accompany it.' Researchers outline their full results in a webpage published May 8 on the Bocconi University website. Pope Francis, the first Pope from Latin America, died April 21 at the age of 88. With the weather in Rome remaining warm and humid, the body needs to be embalmed to prevent the rapid onset of decay. Although the details of this process have historically varied from Pope to Pope, Pope Francis' body will likely be drained of blood and flooded with preservative chemicals. Veins will be opened in the Pope's neck and a mixture likely containing dyes, alcohol, water, and formaldehyde will be pumped in. Just like a blood transfusion, this preservative mixture will wash through the circulatory system and push out the congealed blood which would lead to decay. The formaldehyde mixture will then kill any remaining bacteria and 'bind' the proteins in the Pope's cells to prevent the body's own enzymes from breaking them down.
