Latest news with #Lombardy-based
Yahoo
2 days ago
- Business
- Yahoo
Italian firms in Lombardy strategize against US tariffs
MILAN (Reuters) -More than half of the companies from Italy's industrial heartland which export to the U.S. are studying countermeasures to tariffs, including establishing a bigger presence across the Atlantic, the Bank of Italy said on Thursday. Presenting a report on the northern region comprising Milan, the central bank said the U.S. accounted for 8.6% of exports out of Lombardy, with beverages, fashion, furniture and pharmaceutics more exposed to tariff risks. That was slightly below the national average, as Italian exports to the United States account for 10.5% of the total. The Bank of Italy said 54% of Lombardy-based companies which sell goods in the United States were adapting their strategies to President Donald Trump's announced tariff hikes. Around 18% of the firms planning countermeasures said they would look for new markets while some 14% are looking to increase their local presence, the central bank found. The remaining 46% of companies surveyed said they were not planning action as their share of U.S. exports was small or because they deemed alternative moves to be too costly.
Fashion Network
4 days ago
- Automotive
- Fashion Network
Kering Eyewear acquires Italian lens manufacturer Lenti
Kering Eyewear continues to expand its operations to strengthen its supply chain. The eyewear division of French luxury group Kering has made its third acquisition in less than three months, purchasing Lombardy-based optical lens manufacturer Lenti from Italian group Safilo. The companies did not disclose the value of the transaction. Kering Eyewear describes the deal as 'a key milestone in its industrial development strategy,' providing the opportunity 'to add internal capabilities for the production of Italian-made sun lenses known for exceptional quality, technological innovation, and superior performance,' the company stated in a press release. Entrepreneur Marco Negri founded Lenti in 1996 in Brembate di Sopra, in the province of Bergamo, in partnership with the Safilo Group. The company employs around 100 people and has developed advanced technologies for graphic lenses. It specializes in molding and surface treatments that protect and enhance vision across various applications, including sunglass lenses, visors, lighting components, and protective elements used in the automotive and motorcycle industries. 'We have valued Lenti's products for many years and are proud to welcome the company to Kering Eyewear. It brings an additional area of expertise to our industrial platform of manufacturing capabilities, factories, and, most importantly, outstanding talent,' said Roberto Vedovotto, founder and CEO of Kering Eyewear. Since its creation in 2014, the eyewear division has focused on designing, developing, and selling eyewear, relying on a network of carefully selected production partners. However, the company's rapid growth in recent years—generating €1.6 billion in revenue in 2024—has led it to enhance control over its supply chain by acquiring some of its suppliers. In April, Kering Eyewear acquired Italian manufacturer Visard, which produces optical and sunglass frames using injected plastic, and took a minority stake in Italian company Mistral, known for its acetate frame designs, with the option to complete a full acquisition by 2030.
