Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Iccab is an Italian apparel company, well known for manufacturing the brand "Marina Militare" (Italian Navy). According to the news, the company has been backshoring up to 40% of its production from China to Italy over the last few years. Panerai, the owner of the company, stated that changes in the exchange rate between the dollar and the euro have created extra costs for imports from China. Other reasons for the repatriation included the high quality of production in Italian industrial districts and out of loyalty to the country. The latter could be an important strategic move as the company's contract with the Italian Navy will expire in 2020, and a display of patriotism could help to ensure the extension of the Marina Militare license.
Eurofound (2015), Iccab, Reshoring in Italy, factsheet number 197, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/197.