MILAN — On the heels of its latest acquisition, 100 percent of New and Best H.F., MinervaHub is gearing up to welcome Alessandro Corsi as its new chief executive officer.
Corsi is leaving his role as chief financial officer of Salvatore Ferragamo on Sept. 30, as reported at the end of June, and sources said at the time that he was exiting the Florence-based company to take on a CEO position.
Matteo Marzotto, president of MinervaHub, praised Corsi’s expertise built over the years, “coming from such a wonderful company as Ferragamo,” also giving a shoutout to former CEO Michele Norsa, “who has always been successful in forming his teams in the best possible way.”
Corsi will succeed Marco Casoni and Giuseppe Cerea, who will continue to collaborate with MinervaHub as consultants, and Marzotto will also contribute to the handover, he said.
MinervaHub was established last year to protect a number of Italian manufacturers in the country’s supply chain that help create garments and accessories. In April it sold a 75 percent stake to Investment holding San Quirico SpA.
The remaining 25 percent stake remains in the hands of one of the sellers, Xenon Private Equity, with other coinvestors that include Marzotto. The entrepreneur pointed to further acquisitions in the fall, expressing his confidence in continuing to bulk up MinervaHub’s size and expand its expertise.
Asked about selecting Corsi for the job, Marzotto said he was “impressed by the quality of his work and his extensive path, always growing in responsibilities, within the same, very solid, organization. I think loyalty is always a positive. And I like the fact that he has different skills, experience with financial indicators, processes, operations and business sensibility.”
With a chuckle, he added that Corsi, like himself, is a sportsman, and a fan of cycling — also a strong passion of Marzotto’s. “I believe this helps team building and cements relationships.”
Corsi was named CFO of Ferragamo in December 2018, effective Jan. 11 the following year.
After an initial experience in the financial area of General Electric, he joined Ferragamo’s planning and control department in 2003. In 2006, he was appointed director of group business development and e-commerce. After that, he took part in Ferragamo’s initial public offering project in the role of investor relations director since the listing of the company on the Milan Stock Exchange in 2011 and until 2013, when he was appointed director of the Europe, Middle East and Africa region, a position he held until 2018, when he was appointed chief strategy officer.
MinervaHub, which reports sales of more than 170 million euros, has a portfolio of more than 1,000 clients, of which are 20 among the main luxury brands, and 700-plus employees.
The company stems from the fusion of XPP Seven and Ambria Holding, which Marzotto formed in 2021, taking majority stakes in Italian companies Zeta Catene and Galvanica Formelli, both located in the Arezzo, Tuscany, area. Zeta Catene produces more than 2,000 types of chains of different shapes, sizes and materials, such as brass and silver, as accessories for bags and shoes. Galvanica Formelli offers metal details, components and galvanic treatments for fashion accessories.
MinervaHub has grown to include other companies including Jato 1991, specialized in delicate and sophisticated hand embroideries, Conceria Zuma Pelli Pregiate and Quake to name a few, which operate in the fashion–luxury market, in design, sportswear, cosmetics, jewelry and automotive.
The latest acquisition, New and Best H.F. is based in Barletta, in Italy’s Apulia region. Since 1989 it has operated mainly in the high-end leather goods, footwear, ready-to-wear and accessories sectors and, in particular, in finishings on textiles, leather and synthetic materials.
The founding Doronzo family will continue to be directly involved in the management of New and Best H.F. and, aligned with the business model of MinervaHub, is reinvesting in the latter.