The Marzotto Group is an Italian textile manufacturer, based in Valdagno .
35-540: Created in 1836 as the Lanificio Luigi Marzotto & Figli . In 2005 Marzotto Group's textile business separated from Valentino Fashion Group . The Group manufactures woollen and cotton yarns for clothing, and through equity investments, woollen yarns for knitwear, linen yarns and silk . As a member of the nobility, Luigi Marzotto (1773-1859) founded a wool mill in Valdagno in 1836 with
70-531: A Lithuanian wool garments manufacturer, in 2000, so that the company could shift part of its production to the lower-cost market. He also bought Valentino S.p.A. , which had been struggling under HPI , in 2002. The development of the Marzotto group continued in 2009, acquiring the NTB Nuova Tessilbrenta brand, specialized in the production of cotton casual and sportswear; It also stipulates
105-629: A bank account. Outside the United States, these savings clubs can be formal and have proper legislation. In some countries, like Brazil, consórcios are an integral part of the traditional banking system, where there are clubs for purchasing real estate and cars, and even for plastic surgery costs. Over seven million people have engaged in these formal savings associations over the past years, adding to over U$ 10 billion in credit. Since these clubs have up to thousands of members, products purchased are awarded through lottery and bidding processes and
140-548: A capital of 2 000 Venetian Lira , equivalent to $ 100 000 in the nineties. He handed the business to his son Gaetano in 1842. After the unification of the kingdom of Italy in 1861, Gaetano bought a spinning factory nearby Maglione . By then, the company's payroll had risen to over 1.200 employees. After Gaetano's death in 1910, Marzotto S.p.A. split in two, so his grandson took over the Maglione factory and his son Vittorio Emanuele Marzotto , who has been credited with leading
175-467: A common fund. On every installment the common fund reaches the goal value and someone is awarded this sum and from this point forward this person own the association the remaining amount, just as in a loan. This process repeats until every member is awarded the entire sum. These informal associations are specially popular among immigrants since they are a cheaper alternative to traditional financing and usually require no formal papers, credit history or even
210-466: A consortium to cooperate on areas non-strategic for their core businesses. They prefer to reduce their costs on these non-strategic areas and compete on other areas where they can differentiate better. For example, the GENIVI Alliance, now called COVESA, is a not-for-profit consortium between different car makers in order to ease building an In-Vehicle Infotainment system. Another example is
245-485: A for-profit consortium is a group of banks that collaborate to make a loan—also known as a syndicate . This type of loan is more commonly known as a syndicated loan . In England it is common for a consortium to buy out financially struggling football clubs in order to keep them out of liquidation . Alyeska Pipeline Service Company , the company that built the Trans-Alaska Pipeline System in
280-521: A large private group from Qatar , purchased Valentino and the M Missoni licence, while MCS Marlboro Classics remains the property of Red & Black, a company indirectly owned by the Permira funds in partnership with the Marzotto family. Consortium A consortium ( pl. consortiums or consortia ) is an association of two or more individuals , companies , organizations , or governments (or any combination of these entities) with
315-617: A listing on the Milan exchange market Borsa Italiana , the company started exporting its products to the United States . To reduce labour costs, 40 percent of the clothing production would eventually be transferred there. Between the 1980s and 1990s, Marzotto S.p.A. expanded through acquisitions. Marzotto became Europe's first fully integrated wool producer in 1987 after acquiring Lanerossi , followed by Hugo Boss in 1991 and Czechoslovakia ’s Nová Mosilana wool mill in 1994. In 1997,
350-453: A new company, Airbus SAS. In return, they got 80% and 20% shares respectively. BAE would later sell its share to EADS. The Tornado was developed and built by Panavia Aircraft GmbH, a tri-national consortium consisting of British Aerospace (previously British Aircraft Corporation), MBB of West Germany, and Aeritalia of Italy. The aircraft first flew on 14 August 1974 and was introduced into service in 1979–1980. Due to its multi-role design, it
385-401: A segment of the regular activities of these entities, based on an unnamed contract and characterized by a temporary nature, minimization of institutionalization, and lack of separate property , the need to specify how the parties participate in the joint venture and the intention not to establish a "community" with partly own interests (the partnership as such). According to this concept, despite
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#1732790797000420-451: A structure simply referred to as the "consortium." In the Polish legal system, the legal nature of the consortium agreement is disputed. According to the prevailing approach, a consortium is a form of cooperation, different from a civil law partnership, undertaken between economically independent entities already operating on the market in order to implement a specific undertaking that is
455-646: A successful consortium is the Five Colleges of Ohio of Ohio: Oberlin College , Ohio Wesleyan University , Kenyon College , College of Wooster and Denison University . The aforementioned Claremont Consortium (known as the Claremont Colleges) consists of Pomona College , Claremont Graduate University , Scripps College , Claremont McKenna College , Harvey Mudd College , Pitzer College , and Keck Graduate Institute . These consortia have pooled
490-406: Is a purely contractual cooperative contract that does not entail the creation of a third party. The consortium has no legal personality or legal capacity . The contract is concluded between two or more natural or legal persons who undertake to carry out certain works in order to implement a joint project which consortium members would not be able to carry out themselves. The consortium agreement
525-559: Is not explicitly regulated by the French legislator, but it is admissible in the light of the principle of freedom of contract interpreted from articles 6 and 1134 of the French Civil Code . Neither consortium nor joint venture have a legal definition in U.K. law . The second term is usually used to describe various types of agreements where two or more parties cooperate in conducting business activities. This manifests e.g. in
560-594: The Venetian Lagoon , called it after his wife, Margherita Lampertico Marzotto. During the World War II, the company was under government control. However, Gaetano recover the company at the end of the conflict and took advantage of the Italian economic miracle . In the 1950s, Marzotto S.p.A. diversified in the manufacturing of private-label menswear, Principe by Marzotto . After going public in 1961 with
595-857: The World Wide Web Consortium (W3C) , which is a consortium that standardizes web technologies like HTML , XML and CSS . The Institute for Food Safety and Health is a consortium consisting of the Illinois Institute of Technology , the Food and Drug Administration 's Center for Food Safety and Applied Nutrition , and members of the food industry . Some of the work done at the institute includes, "assessment and validation of new and novel food safety and preservation technologies, processing and packaging systems, microbiological and chemical methods, health promoting food components, and risk management strategies." Commonly known in
630-405: The 1970s, initially was a consortium of BP , ARCO , ConocoPhillips , Exxon , Mobil , Unocal , and Koch Alaska Pipeline Company. Airbus Industries was formed in 1970 as a consortium of aerospace manufacturers. The retention of production and engineering assets by the partner companies in effect made Airbus Industries a sales and marketing company. This arrangement led to inefficiencies due to
665-823: The Marzotto family established the Marzotto Prize, awarding people from medicine, modern sciences, poetry, journalism, theatre and painting. Valentino Fashion Group The Valentino Fashion Group is an Italian consortium of luxury fashion companies currently owned by the Qatari royal family . In 2002, the Valentino fashion house was purchased by the Marzotto Group , joining a group that included Hugo Boss , and licensed products for Gianfranco Ferre, M Missoni , and MCS Marlboro Classics. In 2005, Marzotto spun off Valentino and its other fashion brands into
700-408: The United States as a rotating savings and credit association (ROSCA) and also called Savings Clubs, Christmas clubs , sousou or even money circles, they are typically informal associations of people saving money together with a commonly shared goal: buying something with the same value. In this association its members contribute by paying equal amount installments (usually monthly or weekly) towards
735-522: The Valentino Fashion Group. As a result of a takeover bid made in the second half of 2007, Valentino Fashion Group S.p.A. passed under the control of Permira , a private equity fund . Until 23 December 2009, there were three business units , which even included Hugo Boss, a company which was relinquished on that date and therefore no longer a part of the consolidated group. On 11 July 2012, Mayhoola for Investments , sustained by
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#1732790797000770-565: The collaboration agreement with the Schneider Group, an important and recognized player in the sector in the acquisition and combing of wool and noble fibers, which provides for the creation of a joint production company for the processing of wool, in which Marzotto participates with 30% shares, based in a new plant in Egypt. In October 2009, Marzotto acquired, together with Faber Five, a company owned by Antonio Favrin, 66.7% of Ratti, one of
805-509: The common fund administrators charge a fixed fee in order to take responsibility and guarantee the integrity of the process. In France , the consortium, considered a sub-type of joint venture , has important theoretical and practical significance. The French legal system does not provide a definition and does not explicitly use the concept of a joint venture or consortium ( groupements momentanés d’entreprises ). The consortium agreement in France
840-556: The company into the export business, took over the Valdagno operations. In 1920, Gaetano Jr. inherited the Valdagno mill. According to the company history, Gaetano Jr. modernized the company and expanded during the 1920s, allowing it to survive the Great Depression without being nationalized, and reacquiring the family mill in Maglione . In 1935, Gaetano created an agricultural complex between Fossalta di Portogruaro and
875-406: The consortium and the pool. Cooperation agreements concluded under German law are not of a uniform legal nature. There is a great wealth of legal forms of cooperation that could be cautiously qualified as consortium agreements. This is in particular a civil law partnership in its internal and occasional variants ( Gelegenheitsgesellschaft ), as well as a partnership of building contractors ( ARGE ) and
910-891: The general law of contract, similar to an ordinary partnership agreement , does not create a separate entity. In Germany the view prevails that the consortium is a type of internal civil law partnership (§ 705–740 of the BGB ). In external relations, consortium members may decide on joint and several liability regulated by § 421 BGB, while internally there is sometimes a release from this liability. Joint ventures often include credit syndicates (Kreditkonsortien), securities issuing consortia, including mainly shares ( Emissionskonsortien ), construction consortia ( Baukonsortien ) also referred to as investment ( Investitionskonsortien ) and profit pools ( Ergebnispools ). Sometimes, special purpose partnerships established to jointly use construction facilities ( Planungsgesellschaften ) are listed in one category with
945-454: The group announced a merge with HPI to form Gruppo Industriale Marzotto , the world's largest designer clothing manufacturer. However, Pietro Marzotto abruptly stopped negotiations, which led to Pietro's resignation of his function as chief executive and the take-over by Jean de Jaeger , the first non-Marzotto to be promoted to such a function. Pietro nonetheless remained the majority shareholder of Marzotto S.p.A. and he purchased Liteksas ,
980-644: The inherent conflicts of interest that the four partner companies faced; they were both shareholders of, and subcontractors to, the consortium. The companies collaborated on development of the Airbus range, but guarded the financial details of their own production activities and sought to maximize the transfer prices of their sub-assemblies. In 2001, EADS (created by the merger of French, German and Spanish Airbus partner companies) and BAE Systems (the British partner company) transferred their Airbus production assets to
1015-433: The joint distribution of profit, sharing cash, assets, knowledge or abilities. As there are no legal provisions regulating in detail the consortium or joint venture, the relations between the parties participating in this type of agreement—when choosing a joint venture as a collaboration agreement or a special partnership —are subject to common law or the provisions of the partnership law . A consortium agreement governed by
1050-520: The most important Como companies in the world of silk, founded in 1945 by Antonio Ratti. In July 2018, Davide Favrin, a Management Engineering graduate and son of Antonio, the historical manager and shareholder of the company, first as CEO in 2002 and then as president since 2004, was appointed CEO, replacing Sergio Tamborini, at the head of the group since 2006. Marzotto supported the development of Valdagno, giving services to workers such as schools, hospitals, entertainment, and social facilities. In 1951,
1085-710: The objective of participating in a common activity or pooling their resources for achieving a common goal. Consortium is a Latin word meaning " partnership ", "association", or "society", and derives from consors ("shared in property"), itself from con- ("together") and sors ("fate"). The Big Ten Academic Alliance in the Midwest and Mid-Atlantic U.S., Claremont Colleges consortium in Southern California, Five College Consortium in Massachusetts, and Consórcio Nacional Honda are among
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1120-651: The oldest and most successful higher education consortia in the world. The Big Ten Academic Alliance , formerly known as the Committee on Institutional Cooperation, includes the members of the Big Ten athletic conference. The participants in Five Colleges, Inc. are: Amherst College , Hampshire College , Mount Holyoke College , Smith College , and the University of Massachusetts Amherst . Another example of
1155-488: The region ( University of Kentucky , University of North Carolina , University of Tennessee , West Virginia University , University of Virginia , and Virginia Tech ) are affiliated with the ACA. These institutions assist the ACA in reviewing grant and fellowship applications, conducting workshops, and providing technical assistance. The ACA works to serve higher education in the rural regions of these five states. An example of
1190-789: The resources of their member colleges and the universities to share human and material assets as well as to link academic and administrative resources. An example of a non-profit consortium is the Appalachian College Association (ACA) located in Richmond, Kentucky . The association consists of 35 private liberal arts colleges and universities spread across the central Appalachian mountains in Kentucky , North Carolina , Tennessee , Virginia , and West Virginia . Collectively these higher education institutions serve approximately 42,500 students. Six research universities in
1225-471: Was able to replace several different fleets of aircraft in the adopting air forces. The Royal Saudi Air Force (RSAF) became the only export operator of the Tornado in addition to the three original partner nations. Including all variants, 992 aircraft were built. Coopetition , deriving from a portmanteau of cooperation and competition, is the word used when companies otherwise competitors collaborate in
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