Today we learned all about the Verona Consortium, which was founded in 2000. It was created by the companies themselves, because they knew that to succeed they would have to work together. There are currently 48 members of the consortium all clothing or accessory producers. They also have a network of over 400 other companies that they work along with. This allows them to move quickly and change with the constant changes in the fashion industry. Working together also gives them the ability to hire other individuals to teach them important skills because there is strength in numbers. Most of the members of the consortium are family owned and were created after World War 2. Because of this many of these companies have a weak internal structure so the consortium provides the organization the companies desperately need.
Though the companies are all competitors with one another, being a part of the consortium gives them the ability to be competitive on the international market. There is no agreement between companies in the consortium to protect intellectual property, however few issues arise because fashion changes so quickly that it is also pointless to steal another’s ideas because it will have already gone out of style by the time a copy would be made.
The most important part of the consortium is that everything is completely made in Italy. It is one of the few requirements to be a part of the consortium, production has to be local it cannot be sent out and produce elsewhere. Companies can ask to join the consortium or they can be invited, they just have to pay a fee to join and then are offered help to learn how to become even more successful. Something I found interesting was that for larger projects and bigger clients members of the consortium will work together to produce what it wanted, which shows how even though they are all competitors they are still willing to help each other out. The consortium also ships multiple products at once to increase the sustainability of the companies in the consortium.
This was our only visit for the day, so I am now going to go explore Verona as this is our last day here!
Until tomorrow, ciao!