(Alliance News) - GM Leather Spa announced Tuesday the start of its collaboration with Salvatore Ferragamo Spa to which it will supply leathers intended for the production of leather goods.

"This is an important result for the GM Leather group, achieved after a path of cooperation that lasted more than a year and aimed at the realization of the samplings capable of meeting all the requirements requested by the customer," the company explained.

Simone Voltolin, managing director of GM Leather, said, "The collaboration with Salvatore Ferragamo for the production of leather goods is a source of great satisfaction for us. Developing the strategic luxury market is in fact among the main pillars of the development project announced during the listing. Our group is now able to become a strategic partner of the big luxury brands thanks to the huge investments made in the last three years in human resources with the hiring of staff with proven experience in the sales and production area, in the latest generation 4.0 machinery and equipment, and in intensive research and development."

"Group synergies have made it possible to develop product and process innovations capable of expanding the article portfolio, which is essential to respond quickly to the changing needs of the market, seeking to intercept demands with tailor-made products derived from the ability and experience and to develop solutions for all types of customers."

GM Leather's stock closed Tuesday up 0.7 percent at EUR1.50 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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