WWD Exclusive: Marco Bizzarri embraces new career phase

Here, in a joint interview, Bizzarri and Franchi discuss shared views, women’s empowerment and the potential growth avenues for the brand.

WWD: Why did you think it was the right moment to take in a shareholder?
Elisabetta Franchi: Back in ’98, when the company was established, it was a collaborative effort between my husband [the late Sabatino Cennamo] and me. However, by 2008 [the year he died], it had transitioned to solely me. This shift to the singular “me” also brought about a sense of solitude. You see, the collective “us” symbolized a dialogue and support. But when it became just “me,” my team and a mirror, it was undoubtedly challenging, and not because I am a woman; I believe this kind of transition is difficult for both men and women alike. And at times, when faced with important decisions, even though you may have a thousand highly skilled collaborators, the ultimate decision rests with one person. Finding myself at the helm of crucial decisions at times has been quite taxing.

WWD: In your path, did you follow your instinct?
Elisabetta Franchi: Yes, there are instances when I recognize that my intuition is correct and instinct plays a pivotal role yet, for me, the process of sharing and comparing ideas is essential. As the company grew, I was courted by numerous funds, and let’s say I even slipped away from some of them on my “wedding day” [laughing] when I felt their vision did not align with mine.

WWD: I gather you did not necessarily need a financial investment.
Elisabetta Franchi: Absolutely not. I was looking for either an industrial partner or someone to share my vision with. My company, I say this with great pride, I founded it with a small loan, and I’ve never had any debt. So it’s always been self-financed, and it became attractive to investors because of its very important financial statements and equally significant EBITDA.

WWD: Yes, a margin of 31.8 percent, that’s significant.
Elisabetta Franchi: Marco, in many ways, embodied the Prince Charming for me. And I was convinced he would never meet me.

WWD: Why did you think that out of so many brands out there, Elisabetta Franchi was the one to invest in?
Marco Bizzarri: When everything unfolded, I found myself at a crossroads, unsure of my next steps. However, there was one unwavering desire within me: to collaborate with individuals whom I admired and could select freely. Throughout my career, while I have had a say in the people I worked with, I was chosen by others too. It’s a profound gift to be able to work alongside individuals whom you genuinely admire and respect.
During a lunch at [his son’s Stefano] Dalla Gioconda restaurant, I realized there was a spark. When it seems like the other anticipates what you’re about to say, it’s something very difficult to find. But, as you say, there are many brands, there are so many people I could work with. But I really wanted to find something that intrigued and fascinated me.
I like the potential to bring together a team, to create something sustainable in the long run for everyone involved.
Fortunately, for both of us, it’s not about finances or monetary gains; at this stage in our lives, it’s simply about doing what we’re passionate about.

WWD: At this stage, what are your goals and growth objectives with the arrival of Marco and the fund?
Elisabetta Franchi: I did not want to confine myself within a company solely created and molded by my own efforts. When you initially establish a company, it feels like your own, but over time, it evolves into something that I believe should be able to thrive independently, regardless of your direct involvement. So, with Marco’s arrival, our first priority is to establish a foundational team, an initial structure where my skills might have been lacking. Those who resonate with our journey inherently grasp our vision, while those who do not may never fully align with our mission.
With Marco, I am optimistic that we will further the brand’s global reach. We have a balanced presence, with 50 percent of sales in Italy and the remaining 50 percent abroad, but there are untapped markets, particularly in America.
Marco Bizzarri: Certainly there are different phases in the life of a company, and while it’s true that she didn’t establish a management, over 25 years she has maintained the company’s relevance, both in terms of operational processes and aesthetic appeal. This is no small feat considering the numerous companies that have faltered in similar timeframes.
Operating within a sector dominated by large conglomerates poses its own set of challenges. Financially, these giants are formidable and it’s not easy to find individuals willing to work for a small-sized company in a location that’s not Milan or Paris, and that’s crucial.
Today, there’s a unique opportunity for significant expansion, both geographically and in terms of product categories. However, there will be a transition that requires not just organizational restructuring but also a shift in mindset — learning to trust others to handle tasks she’s long been accustomed to managing herself. Surrounded by experienced professionals who understand the nuances of business operations, Elisabetta is well-positioned to navigate these transitions.
While decisions ultimately shape success or failure, there’s also a factor of luck. And I see myself as lucky. There are many colleagues and collaborators who hold positive memories of our time together. I’ve earned their trust by delivering good work and building successful companies. So when I reach out to them and suggest working together again, they’re usually eager to jump on board. In 99 percent of cases, that is [chuckling].

WWD: The company employs 300 individuals, so in light of the further development are you planning on expanding the team and the human resources?
Marco Bizzarri: It really boils down to finding the right individuals. The company is thriving as it stands, but we need to ensure we don’t disrupt the momentum; that’s paramount. It’s not merely a matter of reorganization; it’s about fine-tuning and refining.
Elisabetta Franchi: I believe this is where Marco’s strength lies because when we started talking, I expressed my concerns as he is accustomed to dealing with substantial figures, but from the start, I was surprised by his remarkable ability to adapt to the specific business circumstances he faces. To me this is absolutely crucial; I don’t want to change the identity of the brand.
Marco Bizzarri: You can’t apply cookie-cutter formulas. Our aim is to nurture the company’s evolution, not to overhaul it.

WWD: Where do you produce?
Elisabetta Franchi: It’s 80 percent made in Italy, all around the Emilia Romagna region.

WWD: You have been very careful in avoiding the dilution of the brand. Is children’s clothing the only license?
Elisabetta Franchi: I have just partnered with Pronovias [and the collection will be available starting in the fall]. Over the years, my loyal customers asked me to design bridal gowns for them. I thought it was a world that needed to be approached seriously, not just by designing five dresses and putting them in the store.
Accessories are also a potential product extension with the help of Marco as now apparel represents 85 percent of sales.
I remain steadfast in my belief that the brand caters to women who embrace their femininity and this should not be viewed as a weakness but as a strength. I’m not just a designer, I’m a woman and the driving force behind this company and this is a profound message of female empowerment.

WWD: Have you reconsidered the idea of going public?
Elisabetta Franchi: During the first roadshow, I realized I was speaking a completely different language — picture me, a petite woman in my pencil skirt, navigating the intricacies of the IPO process. But I embraced the challenge and mastered the trade. Brunello Cucinelli once said to me, “If you can handle it, it’s a fantastic world.” And I believe it could be one of the projects on the horizon, why not?

CREDITS: WWD, Luisa Zargani.