Fashion supply chain: €4.5 million to support 35 suppliers of Cieffe

Intesa Sanpaolo and Cieffe are making €4.5 million available to support 35 companies in the fashion supply chain operating in the Brescia, Cremona and Bergamo areas: the financing is for confirming activities for small and medium-sized companies that are suppliers to Cieffe, as part of Intesa Sanpaolo's "Sviluppo Filiere" ("Supply Chain Development") Programme.

The main objectives of the agreement include:

• immediate liquidity at subsidised costs available to Cieffe's main suppliers upon request
• activation of a virtuous cycle for the entire fashion supply chain

In particular, suppliers will have access to credit at competitive economic conditions and on a streamlined basis in terms of both the credit assessment and application for advances on invoices from the bank.

Intesa Sanpaolo is the first bank in Italy to introduce supply chain finance support through Confirming, a fully digital supply chain finance platform.

Cieffe is a strategic partner of the world's leading luxury brands in the manufacture of high-end ready-to-wear garments.

Since its launch in 2015, Intesa Sanpaolo's Supply Chain Development Programme has benefited 100 supply chain leaders in the Italian fashion system and 2,200 linked suppliers, for a total turnover of over €11 billion.

Photo credits: courtesy Cieffe