We Perceive Our Clients as Partners

Daniele Fiesoli

“We Perceive Our Clients as Partners”

Daniele Fiesoli is the owner of WoolGroup, an Italian corporation that manufactures and distributes the brands Wool & Co and Daniele Fiesoli. As a sport enthusiast and optimist, he loves making the impossible possible. He sat down with style in progress to discuss the strengths of “Made in Italy” and the advantages of being a family business. Interview: Kay Alexander Plonka. Photos: Daniele Fiesoli The collection by Daniele Fiesoli shows what you can do with knitwear.

In Italy, there are fashion businesses - and even entire regions - that are at rock bot tom in terms of the economy. Then there are companies - like yours - that have a posi tive economic outlook and are getting ever stronger. What makes the difference?

Professionalism is certainly a key factor in this respect, but that’s not enough to be successful. Today, a company needs to be creative in all departments. The reason why we are still experiencing growth is that we are a stable and reliable business. I prefer to perceive our clients as partners, not as mere numbers.

How did you manage to react better than others to the cri sis and its challenges?

Everything changes very quickly in our industry. What is right this season can be completely wrong in the next season. One must always be prepared to change one’s views, thoughts, and strategies without losing product coherence. We need to surprise our customers, but also convey a feeling of safety and solidity. Our inherent curiosity ensures that we continue looking for the right approach, while passion inspires us to experiment. Last but not least, our corporate structure allows us to remain flexible. We keep on questioning what we do.

Which customer need played into your hands during this period?

Any customer who is not driven by the price and is willing to pay a certain price for quality… We do not merely supply fabrics. We offer our retailers a professional distribution model, a guaranteed margin of 2.8, B2B full-service, on-time deliveries, and the certainty of always offering products that allow our customers to satisfy the consumers. All these things sound like they should be taken for granted, but - believe me - they are not self-evident. Many of our competitors in the fashion business are no longer manufacturers, but mere converters. We still design and manufacture in-house, which is the reason why we can deliver fashionable knitwear of great quality at reasonable prices.

How does your company’s investment programme shape up these days? Are you cur rently in an investment cycle and - if so - which depart ments of your business are you investing in?

As a matter of fact, we need to invest due to our continuous revenue increase. However, it is always difficult to create budgets for all the investments we would like to make. Currently, our focus is on communication and the integration of our IT department. We strive to be as closely connected with our business partners as possible. Today, apps and the Internet offer huge opportunities to nurture relationships. Furthermore, we continue to invest in our production

Wool & Co. embodies casual wool-wear and cool ready-to-wear clothing.

process and our employees, as well as in state-of-the-art software. In the medium term, we will implement mono-brand retail projects.

Has your company’s positive development been helped by the fact that you are a family business? If so, what makes family business more resilient and agile in times of crisis?

It is important to have people you can trust in strategic key positions within the company. We have proven to be a good team. When a company is run like a “family”, the approach of every single worker is different. Everybody strives to do the best for his “family” and doesn’t merely focus on his or her own responsibilities. Naturally, this approach is ultimately reflected in the products.

You are perceived as a passionate entrepreneur who is not afraid of taking risks, willing to tackle every task, and capable of developing a business based on your own visions. What are the most important virtues that an entrepreneur should have in times like these?

You need to improvise, adapt, and overcome. You need to be able to adapt your business model to the ever changing market without losing your roots and identity.

How do you assess the prospects of Italy? Will Italy be able to retain its status as a production location in the long term or do you think that more production capacities will be transferred out of the country?

Absolutely not. I see an increasing volume of production capacities returning to Italy. This doesn’t apply to all segments, but it is noticeable in segments in which the product is more important than the price. We are approached by other brands from all over the globe on a daily basis, mainly because the manufacturing base has been reduced drastically. This means it is more difficult to find manufacturers that know how to compete with the rest of the world in terms of innovation, speed, quality, and price. I believe that the larger issue we face today is the dramatic drop in quality and sales figures.

What does it take to maintain the “Made in Italy” approach?

It takes my own stubbornness and my belief that what we manufacture is not merely a simple lump of steel. We create emotions and passion. We have centuries of heritage to live up to. The best designer in the world would be nothing without the immense knowledge of the woman who sews, knits, or irons the products. These skills cannot be taught. They are passed on from generation to generation over centuries and the result is a range of truly beautiful products.

Daniele Fiesoli is perceived as an entrepreneur who is willing to take chances.