Italian businesses discovered the limits of their 'small is beautiful' motto when competition became global. Nudged by private equity funds, those supplying the booming luxury goods industry are now finding strength in unity.
With its tradition of sophisticated craftsmanship, Italy is home to thousands of small manufacturers that cover 50-55% of the global production of luxury clothing and leather goods, consultancy Bain calculates, against 20-25% for the rest of Europe.
