Italian entrepreneur Chiara Ferragni's company, Fenice Srl, recently faced significant changes as it was removed from the register of innovative startups by the Milan Chamber of Commerce. This development occurs amid the backdrop of the 'pandoro-gate' scandal, which fundamentally transformed the influencer economy and raised questions about the sustainability of influencer-led business models. While Fenice Srl remains active, it is no longer recognized as part of the distinguished category of innovative startups, thereby losing access to various benefits associated with this status.
The removal from the innovative startup list stems from Fenice Srl's failure to file the required declaration to confirm its continued eligibility. The Chamber of Commerce stated, "The company remains active and registered as ordinary businesses, but no longer as innovative," emphasizing the regulatory compliance expected of such startups. To maintain innovative designation, businesses must demonstrate their adherence to specific requirements annually, including financial documentation submitted within strict timelines.
This noteworthy decision raises concerns about the direction of Fenice Srl, particularly as the company has yet to publish its 2023 financial statements after the pandoro incident. Following this, Ferragni has appointed seasoned manager Claudio Calabi to help steer the firm back to stability. Observers point out the challenges facing Ferragni's enterprise even as she navigates the aftermath of the scandal
.Meanwhile, another Italian industrial shift is occurring with the sale of 75% of Athena to Swiss finance company Wip Finance, as announced by Italian Minister of Tourism Daniela Santanchè. The transaction, expected to close by March 31, 2025, is significant, as Athena is the principal shareholder of Visibilia Editore SpA, which is listed on the stock exchange. This change follows Santanchè's involvement with legal probes concerning alleged financial misconduct, prompting her to expedite this sale.
According to reports, "The closing is set to occur by March 31, 2025, and is subject to specific conditions." This transfer of shares could alter the future of the Italian publishing sector, particularly with Wip Finance showcasing ambitions to leverage its position within the industry. Analysts have noted, "The transition hints at strategic ambitions within Italian publishing," illustrating the intent for enhanced growth and innovation.
This ownership change is poised to raise questions surrounding Athena's governance and operational tactics moving forward. With Wip Finance, headquartered in Lugano and licensed under the Swiss Financial Market Supervisory Authority (FINMA), entering the fray, the outlook becomes increasingly significant for Visibilia and its stakeholders.
Both Fenice Srl and Athena's recent developments reflect the tumultuous nature of the Italian business environment and the challenges faced by companies led by high-profile personalities. While Ferragni aims to steer her brand through recovery, Santanchè’s sale signifies not only her legal strategy but her broader vision amid the fierce competition within the industry.
These parallel paths reinforce the notion of transformation as key players adapt to fluctuated market dynamics and regulatory scrutiny. The broader impact on the Italian economy's creative sector is yet to be fully categorized, but the strategic maneuvers by these firms will undoubtedly play defining roles moving forward.
