BNL Group BNP Paribas and SACE, which with SIMEST forms the export and internationalization hub of the CDP Group, have finalized a € 700,000 loan to support the international growth plans of the well-known luxury luggage brand Bric's.
The line of credit, issued by BNL and guaranteed by SACE, is earmarked to cover the costs of expansion of the Como-based group in foreign markets, especially Europe, Asia and the United States. Bric’s has always focused on the international markets, as demonstrated by its long-standing relations with SIMEST, which has supported the company's expansion plans for North America.
“Thanks to the support of SACE SIMEST, we have successfully expanded our business in the foreign markets, particularly the United States, where we have seen growing recognition of the Bric's brand," declared CEO Maria Angela Briccola. “Specifically, the support of SIMEST in the years prior to 2008 was useful for facing the challenges posed by the financial crisis.”
Bric’s, an established firm in the Lake Como area, has been in business since 1952, producing luggage, travel bags, and saddlery. The company has become a leading brand in its sector, appealing to the middle-high market bracket and stressing values such as quality, craftsmanship, and practicality. With its international calling, Bric’s is present through numerous retail outlets in Italy and abroad, particularly Germany, China, the United States and South Korea, markets that account for 50% of total sales.
With this initiative, SACE and BNL Group BNP Paribas confirm their joint commitment to assist the growth of Italian companies that broadcast the excellence of Made in Italy to the world.