HELPING HAND: Renzo Rosso is helping those hit by the earthquake last May in Italy’s Emilia-Romagna region.
Rosso has created the Brave Circle fund, totaling 5 million euros, or $6 million at a current exchange rate, coming from his own personal fortune, to start a micro-credit project for families and companies located in the area.
This story first appeared in the July 26, 2012 issue of WWD. Subscribe Today.
“I was moved by the people of Emilia-Romagna’s will to immediately come back to work after the earthquake,” Rosso said. “As an entrepreneur and a promoter of social entrepreneurial projects, I decided to help this population in the way I know better: stimulating a sustainable co-responsibility. This activity is extremely modern because it consists of concrete help from an entrepreneur to other entrepreneurs and to families, not in a welfare perspective but through a financial tool, exalting people’s creativity and skills.”
The micro-credit project will be developed by the Italy-based Etimos Foundation charitable organization.