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ALTA— GAMMA FOUND —ATION ALTA— GAMMA FOUND —ATION Altagamma Foundation

SINCE 1992 THE ALTAGAMMA FOUNDATION HAS BEEN BRINGING TOGETHER ITALY'S PREMIERE CULTURAL AND CREATIVE INDUSTRIES, BUSINESSES THAT PROMOTE ITALIAN EXCELLENCE, UNIQUENESS AND LIFESTYLE IN THE WORLD.

Altagamma COMPANIES are global ambassadors of the Altagamma logo, the Ycosaedron vacuus, which the Italian lifestyle that operate in the ﬁelds of fashion, Leonardo da Vinci designed for the De divina proportio- design, jewellery, food, hospitality, automobiles, yachts ne treatise by Luca Pacioli, in which the artist and the and wellness. The Altagamma MISSION is to make mathematician deﬁned the rules for creating things of Italy’s high-end cultural and creative industries more beauty. The HEADQUARTERS of the Altagamma competitive, contributing to the country’s economic Foundation are located in the historic Cova Castle and social growth. From the time it was founded, the in Milan, a city that has been a catalyst for the foundation has been promoting Italian Contemporary development of innovative enterprise throughout Italy, Essence. The “beautiful, high quality and well-crafted” for decades. products that enhance this essence are symbolised by ITA— LIAN —LUX URY— Italian Luxury Total worldwide consumption of luxury goods: 1.044 billion euro ALTAGAMMA BUSINESSES PLAY A LEADING ROLE Market share of Italian brands: 10% IN A MARKET SEGMENT THAT CONTINUES TO GROW ALL OVER THE WORLD. Source: Fondazione Altagamma / Bain&Company, estimates 2015

195 58 22,6 9,4 35 10 57,5 6,5

PERSONAL LUXURY DESIGN FOOD WINES GOODS FURNITURE & BEVERAGE & LIQUORS (Billion Euros) (Billion Euros) (Billion Euros) (Billion Euros) Share of Italian Brands: 23% Share of Italian Brands: 29% Share of Italian Brands: 22% Share of Italian Brands: 10%

168 8 399 6 6 1

Rest of the World Brands

Italian Brands

HOSPITALITY CARS YACHTS (Billion Euros) (Billion Euros) (Billion Euros) Share of Italian Brands: 5% Share of Italian Brands: 1% Share of Italian Brands: 10% 04/SOCIAL 01/THE AESTHETIC VOCATION QUALITIES Style, Design, An Appreciation for Beauty, Elegance. Sense of community spirit, Family businesses, Manufacturing districts 03/CULTURAL AND ARTISTIC HERITAGE The Relationship with the past, The importance of roots, Identity, Sense of belonging to the community.

02/ARTISANAL QUALITY Manual skill, an Eye for detail, the Passing on of manufacturing expertise, Creative craftsmanship that is never repetitive. 05/RELATIONAL QUALITIES Relational qualities. The ability to construct empathic relationships, 07/OVERALL Welcoming, Warmth, QUALITY OF LIFE Hospitality, Conviviality. Italians “know how to live”, 06/ VARIETY More relaxed rhythms, MULTIPLICITY Simple everyday pleasures, The richness of nature, Sense of lightness and authenticity. culture, production. Variety of cultures, styles, tastes. 08/CREATIVITY Flair, Talent, Passion, Curiosity, Flexibility, Ingenuity.

The 8 Distinctive Features of Italian Quality

THE STYLISTIC AND CREATIVE EXCELLENCE OF ITALIAN LUXURY BRANDS, AND THEIR SUCCESS ACROSS THE WORLD, IS UNDERPINNED BY A SERIES OF QUALITIES THAT ARE TRADITIONALLY ASSOCIATED WITH THE COUNTRY AND THE ITALIAN PEOPLE, AND UNIVERSALLY RECOGNISED ALL OVER THE GLOBE. THIS MEANS THAT, IN ADDITION TO THE Source: 2012 Eurisko survey SPECIFIC CACHET OF EACH INDIVIDUAL BUSINESS AND BRAND, ITALIAN PRODUCTS ALWAYS on qualiﬁed international panel. POSSESS AN ADDED VALUE THAT DERIVES FROM THE VERY 'ITALIAN-NESS' OF THE BRAND. STR —ATE GIC— ARE AS 01/Business Development

THE FOUNDATION CARRIES OUT A BROAD RANGE OF ACTIVITIES TO STRENGTHEN THE COMPETITIVENESS OF BUSINESSES: FROM KNOWLEDGE OF THE MARKETS TO RELATIONS WITH INSTITUTIONS, FROM NETWORKING ACTIVITIES TO THOSE DEDICATED TO SPECIFIC INDUSTRY ISSUES. STUDIES AND RESEARCH

Altagamma is the global point of reference when it performances, with MCKINSEY & COMPANY. comes to understanding the luxury market. Every year · FASHION & LUXURY INSIGHT: the Foundation carries out 8 research projects together international fashion and high-end listed companies, with the most authoritative international partners. Also with SDA BOCCONI. including high-proﬁle panel sessions, the study · FOOD & HOSPITALITY INSIGHT: presentations have become highly-anticipated events international food, beverage and hospitality listed among the media and the business community. The companies, with SDA BOCCONI. luxury markets are analysed in terms of both supply · ALTAGAMMA RETAIL EVOLUTION: and demand. the evolution of luxury retail, with EXANE BNP · ALTAGAMMA WORLDWIDE MARKET MONITOR: PARIBAS. Worldwide Luxury Consumption, with BAIN&CO. · TAX FREE CONSUMPTION IN · ALTAGAMMA HIGH END DESIGN MONITOR: THE EUROPEAN UNION: Worldwide Consumption of High End design Tax Free consumption in the European Union, furniture, with BAIN&CO. with GLOBAL BLUE. · TRUE GLOBAL LUXURY CONSUMER INSIGHT: · ALTAGAMMA CONSENSUS: the global luxury consumer, with BOSTON forecasts on luxury market trends, carried out by the CONSULTING GROUP. Altagamma Foundation. · DIGITAL LUXURY EXPERIENCE: the digital behaviour of consumers and online INSTITUTIONAL RELATIONS

Altagamma represents, protects and promotes the At a national level Altagamma conducts relations with Fortuny (Spain).On 26 September 2012 the European interests of its member companies also through its government institutions and local authorities with Commission recognised the cultural and creative value interaction with both national and international regard to issues and legislation relating to the domestic of European luxury businesses as well the industry's Institutions. and European market and to industry regulations and original and far-reaching business model. Such More speciﬁcally, these relations focus on the issues of: training. Outside Europe, Altagamma continues to businesses were acknowledged as key contributors to · INTELLECTUAL PROPERTY work with institutions to reduce duties and non-tariff European competitiveness in the world and economic · INDUSTRIAL POLICY barriers and to combat parallel imports. and social growth in Europe. · COMMERCIAL POLICY AND SELECTIVE ECCIA: Altagamma is a promoter and founding DISTRIBUTION member of the European Cultural and Creative · INTERNATIONAL MARKETS ACCESS Industries Alliance (ECCIA), the body that represents · GOVERNANCE OF THE INTERNET European luxury businesses which, in addition to · TAX REGULATION Altagamma, is composed of Comité Colbért (France), · EDUCATION Walpole (UK), Meisterkreis (Germany) and Circulo NETWORKING

The Altagamma Foundation is also a meeting place promote Italian lifestyle worldwide. Together with the and forum for its members, resulting in a network of Italian Companies they create a one-of-a-kind network contacts and relations that foster the development of of more than 200 key players of the luxury industry. concrete business opportunities. Another distinctive Since 2013 the Altagamma International Honorary feature of the Foundation is its valuable network of Council include salso Italian personalities, Ambassa- international contacts: the ALTAGAMMA HONORARY dors of Italian Excellence in the world. In 2014 the COUNCIL gathers international partners of Altagamma Council embraces the Altagamma Territories, iconic Companies and other organizations contributing to touristic destinations, synonymous of excellence 02/Business Culture

WITH THE INCREASE OF THEIR COMPETITIVENESS, ITALIAN CULTURAL AND CREATIVE COMPANIES MUST SWITCH TO A PROFESSIONALLY-MANAGED FAMILY BUSINESS MODEL. THE ALTAGAMMA FOUNDATION OFFERS ITS SUPPORT TO ENTREPRENEURS, MANAGERS AND WORKERS. ENTREPRENEURS

Through various forms of counselling and think tanks, Altagamma provides support on these issues and helps business owners, both individually and collectively, to understand the social and economic dynamics of the luxury sector and to reﬁne their business strategies.

MANAGERS

For over a decade Altagamma has worked very closely and the MASTER IN MANAGEMENT IN FOOD AND with SDA Bocconi University to train managers that are BEVERAGE shape professionals that are able to able to manage a world of intangible values in a balance general management techniques and skills symbolic economy, reconciling innovation with the with the promotion of intangible elements. In need to preserve one's identity. The MASTER IN September 2015 the MASTER IN ARTS MANAGEMENT FASHION, EXPERIENCE & DESIGN MANAGEMENT AND ADMINISTRATION kick off, in collaboration with (MAFED), the leading course of its type in the world, several artistic and cultural partners and institutions.

WORKERS

The legacy of artisanal expertise, passed down Workshops") project, which enables young adults to through the generations, is a gift that Italy has a duty to specialise in the main segments of ‘Made in Italy’ preserve and promote. Manual expertise is the through apprenticeships. In addition, as part of the lifeblood of the Italian luxury industry, a key partnership with McKinsey relating to the “STUDIO component in its supply chain. As such, promoting ERGO LAVORO”, ("I Study Therefore I Work") program- manual labour is one of Altagamma's goals. Through a me, the Foundation is examining new forms of number of businesses Altagamma participates in the collaboration between the associate businesses and experimental “BOTTEGHE DI MESTIERE”, ("Craft training schools across the country. 03/Promotion of the Altagamma System

LUXURY COMPANIES MAKE A SIGNIFICANT CONTRIBUTION TO THE POSITIVE IMAGE OF ITALY AS A COUNTRY THAT OFFERS BEAUTIFUL, HIGH QUALITY AND WELL-CRAFTED PRODUCTS, AND ARE FUNDAMENTAL FOR BOTH THE ITALIAN ECONOMY AND SOCIETY IN GENERAL.

Luxury Other segments luxury contribution Contribution to employment * 234 15 Greater contribution to to Italian economy (average number of employment and society employees per company)

Contribution to exports 49% 27% Greater tendency to export (percentage of turnover generated overseas)

Investment 7.67% 4.45% Greater inclination towards (relationship between investment and growth investments and turnover)

Tax contribution 1.8 milion euro 40,000 euro Greater tax revenues (average value of taxes paid)

Source: The Altagamma Foundation/ CRESV

*The Italian luxury sector employs around 500.000 people, directly and indirectly COMMUNICATIONS AND EVENTS

The Altagamma System is also promoted through the Foundation's internal and external communication activities and with public events or those reserved for member businesses: from conferences to present industry studies to Altagamma Days with meetings of the Strategic Council, and various social and networking opportunities.

ITALY HOMELAND OF BEAUTY

The Territory - its history, beauty and creativity - is the aims to create a tourism offering featuring exclusive lifeblood of the luxury segment. For this reason the itineraries that include the places of culture, nature and Foundation is co-founder of the Italia Patria della manufacturing that represent Italian excellence. In Bellezza (Italy Homeland of Beauty) Foundation addition to responding to the need to reposition the promoted by Maurizio Di Robilant, which aims to country's tourism offering at the higher end of the formalise all of the initiatives designed to revive the market, the Altagamma programme plans to generate country through its 'beauty' - whether natural, artistic, or a virtuous cycle that beneﬁts the industry and contribu- related to manufacturing and enterprise - in a broad tes to improving Italy's global reputation through identity-based project. Altagamma is working on a affluent tourists that serve as ambassadors of Italian luxury tourism project, Italian Style Itineraries, which beauty and excellence. PANORAMA: AN IMMERSION INTO THE ITALIAN BEAUTY

In occasion of EXPO2015, Altagamma gave birth to City of Milan, the Milan Chamber of Commerce, Panorama, a 360° video-installation, located in the Fondazione Altagamma, Camera Nazionale della innovative Piazza Gae Aulenti in Milan, that narrates Moda Italiana, Salone del Mobile Milano, in Italian uniqueness in 15 minutes. Panorama is an collaboration with the Ministry of Cultural Heritage extraordinary story of beauty and Italian excellence: and Activities and patronized by EXPO2015. 230.000 highlighting the strong link between nature, culture people in 5 months enjoyed the video-installation, and craftsmanship, it shows how Italian excellence – including more than 30 institutional and commercial including fashion, design and food – is well delegations from all around the world. the video established in the savoir-faire and cultural heritage remains at the disposal of partners and institutions, that Italy has created over 3000 years of history. and its aim is to become an excellent storytelling tool Panorama is the result of an unprecedented to promote Italy worldwide. collaboration among the Ministry of Economic Development, the Italian Trade Agency, SIMEST, the www.panoramaitaly2015.com NAUTICA ITALIANA ASSOCIATION

In September 2015 the best of Italian Nautical sector industry, thus fostering system-wide growth both in is gathered in a new association, Nautica Italiana, Italy and internationally. Thanks to Altagamma’s affiliated with Fondazione Altagamma and sharing international vocation and trasversal reach, new and the same positioning and the specific focus on the strong sinergies will be pursued in various fields: international markets. The association NAUTICA market studies and research, institutional relations, ITALIANA aims to bring together top firms from the corporate culture, promotion and co-marketing entire sector — Industry, Services and Territories — to initiatives. draw up a strategy for the development of the nautical —REC ENT— ACTI VITI ES— 2013 LARTE

A perfect example of an inter-industry synergy and the Italian lifestyle. Under the creative direction of Davide fusion of the creative industry with the world of art and Rampello, Larte is, at the same time, a cafe, chocolate culture, LARTE is a concept restaurant developed at shop, a 'hosteria' – in the original sense of a place “that Altagamma and located in the centre of Milan where hosts people” - a restaurant and gallery. each detail is inspired by the crème de la crème of the

2012 ALTAGAMMA ITALIAN CONTEMPORARY EXCELLENCE EXHIBITION

To mark its twenty-year anniversary, Altagamma vision of Italian excellence. The photos create a unique developed a joint representation of the values and mosaic that promotes the “beautiful, high quality and symbols that characterise Italian luxury using a well-crafted” products of Italian luxury businesses. high-impact format of great cultural value. Altagamma Coordinated by Cristina Morozzi, the project produced Italian Contemporary Excellence is a collection of a photo book, published by Rizzoli and Rizzoli snapshots taken by ten young Italian photo International, and also inspired a travelling exhibition, journalists, coordinated by the Contrasto agency, which opened at the Triennale di Milano in December whose impartial and non-didactic perspectives were 2012 and continued at the Shanghai Italian Center entrusted with the task of providing us with an original from 29 April 2013. 2011 IL SUCCESSO NELLE MANI

The Altagamma Foundation is involved in a project to with the aim of encouraging children to pursue this promote manual labour, “Il successo nelle mani” path. The film includes appearances by a series of (“Success in your hands”). Aimed particularly at lower Altagamma entrepreneurs (Gianmaria Buccellati, secondary school students and their parents, the Vittorio Moretti, Ottavio Missoni, Carlo Riva) and other project seeks to encourage them to consider pursuing talented professionals from other companies (Paolo a technical/professional career. In association with Dazzara of illycaffè, Clemente Olivadoti of Bulgari, the Milan Centro Sperimentale di Cinematografia, a Federica Giorgi of Gucci, Francesco Rodriquez of Flos) film was made to illustrate and promote manual work whose success has been built on manual expertise.

2009 “BELLA E POSSIBILE” (SKIRA)

In 2009 Altagamma embarked on a project to promote the image of Italy in the world, leading to the publication of the book “Bella e Possibile” (Beautiful and Possible) by Skira. A study group made up of qualiﬁed professionals from different ﬁelds analysed the perception of Italy's image overseas, examining its strengths and weaknesses, and suggesting guidelines for the effective promotion of the Italy "brand". ALTA— GAMMA MEM —BER SHIP— STRUCTURE

Chairman Andrea Illy

Deputy Chairpersons Armando Branchini Giuseppe Fontana Matteo Lunelli Claudio Luti Laudomia Pucci Lamberto Tacoli Paolo Zegna

Founder Chairman Santo Versace

Honorary Chairman Leonardo Ferragamo

Members of the Board Stefano Agostini Nerio Alessandri Stefano Alessi Carlo Alberto Beretta Rossella Bisazza Francesca Bortolotto Possati Fabio Boschi Maria Cristina Buccellati Brunello Cucinelli Claudio Domenicali Giovanni Geddes da Filicaja Aldo Melpignano Carmen Moretti Giuseppe Prezioso Dario Rinero Gabriella Scarpa

General Director Stefania Lazzaroni

Events Elena Besana

Organization Anna Maria Caimi and Administration

Communication Edoardo Carloni and Press Office ALTAGAMMA MEMBERSHIP

The Altagamma MEMBERS are businesses positioned internet governance, access to markets. at the highest end of the market that provide products · Access to the most authoritative studies on the or services for people or for the home with a recognised industry via the reserved area of the website. brand at an international level. Their business manage- · Business support for associate companies by ment and products represent the epitome of the Italian representing their interests to the competent culture and style. The Altagamma PARTNERS are authorities Italian and international businesses or people that · Identification of specific business opportunities. have a close relationship with the luxury industry, that · International networking with Honorary Members share in the principles and goals of the Altagamma and ECCIA Foundation, supporting it in a concrete manner and · Relations with entrepreneurs and top managers actively participating in all of its activities or in specific from the Italian and international luxury sector with projects. Membership fees are established according to group and individual meetings. turnover. New Altagamma businesses are co-opted · Periodic meetings of industry work groups. into the Foundation following recommendations by · Periodic meetings to define collective communications two or more members and a subsequent vote by the projects and co-marketing opportunities between Board of Directors and during the General Assembly individual businesses. Meeting. The tangible and intangible ADVANTAGES of · Access to a daily national and international press membership: review of the luxury industry. · Members belong to an elite group of Italian luxury · Participation in meetings of the Strategic Council. businesses. · Speaker opportunities at Altagamma events · Support, on an individual basis, in various areas: tax · Visibility through the Foundation's events and regulations, industrial property, selective distribution, communication activities. MEMBERS

FASHION DESIGN HOSPITALITY FOOD & WINES CARS YACHTS JEWELS OTHERS FURNITURE & MOTORBIKES & HARD LUXURY

Agnona Alessi Albereta Agrimontana Ducati Amico&Co Aurora Acqua di Parma Alberta Ferretti Alias Andana Allegrini Ferrari Arcadia Yachts Buccellati Manifatture Sigaro Toscano Bottega Veneta Artemide Bauer Baratti & Milano Baglietto Bulgari Moleskine Brioni B&B Italia Bellevue Syrene Bellavista Benetti Omas Skira Brunello Cucinelli Bisazza Belmond Hotel Splendido Biondi Santi Perini Navi Vhernier Technogym Corneliani Boffi Bulgari Caffarel Riva Emilio Pucci Danese Capri Palace Ca del Bosco Ermenegildo Zegna Driade De Russie Calvisius Etro FontanaArte Lungarno Cantine Ferrari Fedeli Cashmere Frette Masseria San Domenico Domori Fendi Kartell Principe di Savoia Feudi di San Gregorio Gucci Living Divani San Maurizio 1619 illycaffe Herno Moroso TownHouse Galleria Livio Felluga internet governance, access to markets. Isaia Poltrona Frau Verdura Resort Luce della Vite · Access to the most authoritative studies on the Loro Piana Venini Villa d'Este Masi Agricola industry via the reserved area of the website. Max Mara Zanotta Mastrojanni · Business support for associate companies by Missoni Nonino representing their interests to the competent Persol Ornellaia authorities Rene Caovilla San Pellegrino · Identification of specific business opportunities. Salvatore Ferragamo Segnana · International networking with Honorary Members Sergio Rossi and ECCIA Stone Island · Relations with entrepreneurs and top managers Tod's from the Italian and international luxury sector with Valentino group and individual meetings. Versace · Periodic meetings of industry work groups. · Periodic meetings to define collective communications projects and co-marketing opportunities between individual businesses. · Access to a daily national and international press review of the luxury industry. · Participation in meetings of the Strategic Council. · Speaker opportunities at Altagamma events · Visibility through the Foundation's events and communication activities. PARTNERS

AWENEXT Central Department Store, Tailandia Li&fung, Hong Kong The Oberoi Group, India Bain&Company Central Saint Martins College, GB Lotte Dept. Store, Corea Del Sud The Wadia Group, India BCG – Boston Consulting Group Chalhoub Group, EAU Louis Boston, USA Tianhong, Cina Fiera Milano Cii, India Lumina Aydinlatma, Turchia Tony Salame Group, Libano Global Blue Cinmar Lighting, EAU Luminaire, USA Uae Trading Establishment, EAU Havas LuxHub Club 21, Singapore Mafatlal Luxury, India Verve, India Intesa Sanpaolo Conde' Nast International, GB Mahagaya Perdana, Indonesia Villa Moda, Kuwait La Rinascente Conde' Nast Publications, USA Melium, Malesia Visa International, USA McArthur Glen Conde' Nast Verlag, Germania Mercury Distribution, Russia Weinland Ariane Abayan, Germania McKinsey & Company Daimaru, Giappone Meubles Et Fonctions, Francia Yamagiwa, Giappone Robilant & Associati S.p.A. David Jones, Australia Ministry Of Commerce And Industry, India Russo di Casandrino Deloudis, Grecia Mitchells/richards, USA ITALIAN AMBASSADORS SACE El Corte Ingles, Spagna Mitsui, Giappone SDA BOCCONI Euro Food, GB Mitsukoshi, Giappone Massimiliano Alajmo Società Italiana Brevetti Fashion Club 70, Belgio Mohit Diamonds, India Mario Bellini Unicredit Ficci, India Neiman Marcus, USA Andrea Berton Value Retail Gruppo Ristoratori Italiani, USA Nordstrom, USA Massimo Bottura Yoox NaP Hang Lung Group , Hong Kong Ogaan Publications, India Antonio Citterio Harrod’s, GB Oger, Olanda Michele De Lucchi Harry Rosen, Canada Paris Gallery, EAU Gillo Dorﬂes ALTAGAMMA HONORARY Harvey Nichols, GB Peek&cloppenburg, Germania Massimiliano Fuksas COUNCIL Hearst Magazines, USA Printemps, Francia Ludovico Einaudi Hindustan Times, India Rainbow Group, Macao Piero Lissoni INTERNATIONALS House Of Fraser, GB Rsh, Singapore Gualtiero Marchesi Iguatemi, Brasile Royal College Of Art, GB Alessandro Mendini Al Ostoura, Kuwait Imaco, Russia Rustan Group, Filippine Davide Oldani Al Rubaiyat, Arabia Saudita Imaginex Holdings, Hong Kong Saks Fifth Avenue, USA Mario Pedol Al Tayer Group, EAU Inform Interiors, Canada Sanki Shoji, Giappone Niko Romito American Express Company, USA Interdesign, Cile Santa Eulalia, Spagna Davide Scabin Babochka, Russia Interior Design Magazine, USA Sanyo Shokai, Giappone Franca Sozzani Banyan Tree Group, Singapore Isetan, Giappone Sarika Rodrik, Cile Barneys New York, USA Jamilco Zao, Russia Selfridges, GB ALTAGAMMA TERRITORIES Bergdorf Goodman, USA Jhsf, Brasile Space Furniture, Australia Beymen Holding, Turchia Kadewe, Germania Sun Motoyama, Giappone Associazione MonteNapoleone Bloomingdale, USA Kafea, Grecia Takashimaya, Giappone Consorzio Cortina Turismo Bosco Di Ciliegi, Russia Kenzo Tange Associates, Giappone Tate Modern, GB Consorzio Costa Smeralda Brunschwig, Svizzera Kurt Geiger, GB Tange, Giappone Fondazione Capri Carluccio's, GB La Galerie Semaan, Libano The Hour Glass, Singapore Carouzos, Grecia Le Bon Marché, Francia The Link, Singapore