7 minute read
We Are Stated Optimists
Frankie Morello
Since the takeover by FFM, the designer brand Frankie Morello has blossomed anew. The driving force behind the investment is the Ammaturo family, who previously made money by investing in the oil and energy sectors. Angela Ammaturo has proven that fashion fits into her family’s portfolio of companies and agreed to sit down with style in progress to reveal her plans for the brand’s future. Interview: Martina Müllner-Seybold. Photos: Frankie Morello
The Italian fashion industry is in crisis mode for a variety of reasons, but your family decided to invest in a fashion business nonetheless. Why?
The entire Italian economy has to be seen within the European context and is struggling at the moment. This obviously also applies to the fashion industry. The question is when it will recover again. I think we can expect an upturn in the medium term. We have turned the corner and therefore it is likely that we will experience moderate growth in the future. Furthermore, the decision makers have recognised the need to change course and abandon current austerity policies. My family and I are stated optimists and we made this investment in fashion with a medium-term perspective. We don’t want to miss out on profiting when the economy picks up again and we must prepare for it now. It is, of course, very challenging, but the Ammaturo family relishes challenges. My dream is to turn Frankie Morello into one of Italy’s trendsetting brands that can inspire strong growth within the entire industry.
It’s a long way from the oil industry to the fashion busi ness. Whose idea was it?
It was my idea. My family was very interested as soon as I made the proposition. I think I have introduced a new aspect to the way my family perceives its businesses. Now the family members - especially my father - are really enthusiastic and I enjoy their full support. I gave birth to this idea and now it has learned to walk with the backing of all the entrepreneurial experience and resources our family has to offer. I have been fascinated by fashion since I was a teenager. It has a mystical aspect. Fashion is an art and is among the artistic things that people require on a daily basis to feel good.
Frankie Morello isn’t merely an investment for you. It is also a task that takes up all of your time, especially in your role as CEO. Do you concen trate on this task exclusively or do you have additional duties within the FFM Group?
No, I don’t have any managerial functions in other companies, which allows me to commit all my efforts to Frankie Morello. The project fulfils me. I have worked on it almost without a break, yet I have never grown weary of the task. I am more than happy to be involved in all aspects of the business. Naturally, I could never do that without the support and contributions of my fantastic team.
What got you hooked? Was it the glamorous side of fashion or the numbers?
It was a combination of both. I find both aspects very exciting. I am happy to work in an industry with a certain glamour factor. However, this alone wouldn’t have been enough to make me take action. It was the motivation to run a business.
Will Frankie Morello remain the only family investment in the fashion industry or is this just the start of a whole new field of activity?
That’s a tough question. Right now, I’m so focused on Frankie Morello that I can’t envisage doing anything else. However, I’m sure that I will have the desire to develop another fashion project sooner or later. It’s a bit like being a mother. One cares deeply about raising a child, but one still thinks about having more children.
What are the main advantages of investing in a phase of decline or stagnation?
As I said before, one has to pre
Frankie Morello is set to open its flagship store and a showroom on Milan‘s Corso Venezia.
pare in this phase in order to be successful in the future. In such phases one can, of course, take advantage of excellent chances that others fail to capitalise on while they are in trouble. This also applies to, for instance, employees; it’s easier to bring them on board now. That was great for us. I managed to hire excellent people, because they were released elsewhere. If you are doing a good job, you can generate good business in such phases, thereby paving the way for a better and solid future.
Italian design and Italian clothing enjoy a certain status in all your export markets. What does Italy need to do to retain this image?
Italy must avoid the mistake to rest on laurels of the past. Fashion needs the ability to reinvent itself constantly. It needs new ideas, new emotions, young designers, and employees who are capable of interpreting the here-and-now, as well as anticipating the future. That is paramount. Frankie Morello’s “Reborn” project mirrors the world of the young. It interprets the interaction of people and technology, which is incredibly
Angela Ammaturo at the collection presentation for the export partners of Frankie Morello.
important in this day and age. That is certainly a new influence within the fashion industry.
As an entrepreneur, do you feel like you are being sup ported by the government and governmental organisations?
Yes, I do. There are, for example, good programmes for women and founders. The government and governmental organisations really can help and I believe that they are doing their best to support entrepreneurs like me. Moreover, there are many ways in which the government does help indirectly, such as creating an environment that promotes growth.
What makes Italy a good home for a company like yours?
Italy is my country and it is a truly magical place. It’s full of history, art, culture, and fabulous regions. It has been a source of inspiration for generations of designers and it still is. If one mentions Milan, the first thing that comes to mind is fashion. There’s nothing left to add to that.
If you could be Italy’s prime minister for a day, what would you do help the fashion in dustry?
That would be a really difficult task. I think that our prime minister is, generally speaking, doing the best he can and that naturally has a positive impact on the fashion industry. There are some new initiatives to support export-oriented companies. The fashion industry can benefit greatly from those.
Your business is family-run - does this make things different?
The sense of responsibility and belonging is very great in a family-owned company. This does not mean that it isn’t like that elsewhere too, but I feel these values are stronger within a family-managed business. From an organisational point of view, being a family-run company is definitely an advantage, especially at the beginning and during the development phase of a business. If one considers, for example, an IPO, a company needs to have a different organisational structure.
What are your goals for your company? I’m not only talking about Frankie Morello in this respect. Which mark do you want to leave?
I am a businesswoman in the truest sense of the term. My clear goal is to generate revenue and profit while satisfying my customers at the same time. I want to develop the company in a way that allows it to list on the stock exchange in the medium term. Achieving such an aim would be the greatest achievement for me personally. I don’t want to sound melodramatic, but I believe that companies also have social functions. Successful companies generate wealth and create jobs. If I perform well, others benefit too.
Which entrepreneurial characteristics did you learn from your father and what can he - in turn - learn from you?
My father is an entrepreneur through and through. I learned from him how to be self-motivated. It gave me the ability to believe in my dreams and to make them come true with drive and commitment. In turn, my father enjoys the fact that he gets to learn about the fashion sector through me. He senses that it is beneficial for our group to add new business fields. That’s a positive development.
