2024 Finishing Line: Is LVMH going "Eyes Wide Shut"?
And the Value of Sentiment for Patrizio Bertelli and the Real Mistake Behind Chanel Decision and Farewell to 2024
2024 What a Ride!
A year rich of surprises, unexpected events and lots of troubles for the industry.
Intro - Back to the Roots and the Value of Sentiment
I am writing this last newsletter of the year in an amazing room in Arezzo, in an ancient palazzo with lots of atmosphere and charm and the right shabbiness, Sugar Rooms, wrapping up the first chapter of an exciting project. Working with a great team supported by a growth mindset is key to face the difficulties of the industry.
The “can do” approach is crucial and I am happy to be called to work with inspiring entrepreneurs for consulting projects.
Sugar by Beppe Angiolini is since decades one of the most exclusive fashion concept stores in the world, and one of the most beautiful and refined ones.
Arezzo is a special place, rich of surprisingly kind people, exceptional food and coziness.
Many of you don’t even know it, it’s in Tuscany, it’s the heart of the fashion industry, the real one, the manufacturing one, and the birthplace of Patrizio Bertelli, who helped high quality businesses like restaurants and even kiosks surviving the crisis through personal acquisitions.
From Corriere Fiorentino:
“After having bought other important pieces of the Arezzo of his youth in the last five years: first the Buca di San Francesco, a prestigious restaurant in Piazza San Francesco, frequented by presidents and royalty, next to the church of Piero's Affreschi, which had not reopened after Covid and which he renovated and revived.
Then what is perhaps the father of all the places in the center, namely the Caffè dei Costanti, founded in 1804, also in Piazza San Francesco, a meeting place for the city's high society and the most illustrious tourists, closed since 2021 and also the set for some scenes of Roberto Benigni “Life is Beautiful”. A return to business is scheduled for 2025.
Next is a purely sentimental affair: namely shopping at the newsstand in Piazza San Iacopo where Mister Prada regularly buys newspapers when he is in Arezzo: it was at risk of closing due to the advanced age of the manager, Piero Scartoni.
Finally, the purchase of another restaurant, La Capannaccia on a hill in the outskirts, where Bertelli regularly went to eat Florentine steak.
Now the latest coup, that of Palazzo Carbonati, that very likely will become a luxury hotel”