Luckily, an occasional piece of good news interrupts the long list of Italian brands being bought up by international groups and investors.

After suspending activity just a few weeks ago, on the 23 March, and laying off 45 employees, Balducci – an old-established shoe manufacturing firm based in Pieve a Nievole in the province of Pistoia, specialising in children’s shoes and active since 1934 – has been taken over by A.S.S.O, a footwear company located in Italy’s Marche region. A.S.S.O operates in the same sector and was set up in 1987 by Silvano Donati and Sauro Silenzi. Silenzi, the firm’s managing director, said: «We are very pleased about this acquisition, which will not only enable us to strengthen our leadership on the home market but also to expand on other markets».