As reported in June, the French company was said to negotiating the lease of a building complex in Scandicci, outside Florence, and on Friday, the contract was finalized by Saint Laurent chief executive officer Francesca Bellettini, the mayor of the town Sandro Fallani, and Fabrizio Palermo, ceo of Gruppo Depositi e Prestiti Investimenti SGR, the owner of the space. GDP is controlled by the Italian Ministry of Economy and Finance.
The complex, called Palazzo delle Finanze, comprises two buildings covering around 309,960 square feet and is expected to be delivered to the brand in September 2022.
With an investment estimated to total around 28.5 million euros, CDP will be responsible for redeveloping and reconverting the buildings for the industrial activities of the brand, ranging from the development of prototypes to the production of accessories and the training of new professional figures.
“Saint Laurent has been acknowledging for years the artisanal and managerial skills offered by the Scandicci area and with the new Atelier Maroquinerie it further confirms the importance of this territory for its success,” Bellettini said. “To invest on the quality of the product, people and innovation is fundamental to further consolidate our recognizability in the sector and to reach our ambitious future objectives.”
The cement building was erected between 1991 and 1994 to house the Center of the Ministry of Finances but it was never fully finished or used.
CDP’s Palermo emphasized the “high social value” of the project, in “valorizing the territory, through initiatives to transform the city that will provide innovative functional and sustainable spaces. This is also a way to promote the future and support the growth of the country.”
The project also involves reconverting the public road and the construction of public and private parkings as well as the enhancement of the green surfaces outside the complex.
The building will “soon represent a world excellence in creativity and in the luxury leather goods industry,” Fallani said. “The rebirth of this area proves that when we all work with a common goal our country is capable of doing great things and to overcome decay,” he added, thanking the “determination” of both Saint Laurent and CDP.