Salvatore Ferragamo has reached a €250 million financing agreement with the leading Italian bank Intesa Sanpaolo to fund environmental, social and governance (ESG) objectives as well as general cash flow needs.
The financing is composed of a €125 million term loan credit line expiring in 2025 and a €125 million revolving credit line expiring in 2024, but which can be renewed for a year. The agreement includes a rewarding mechanism linked to certain sustainability targets.
The Italian luxury goods group also announced that it has started using a product lifestyle management platform to streamline its design and manufacturing processes. The platform is provided by Centric Software.