Sandro Veronesi (entrepreneur)
Sandro Veronesi | |
|---|---|
| Born | Template:Birth year and age Ala, Trento, Italy |
| Occupation | Entrepreneur |
| Known for | Founder of Calzedonia Group |
Sandro Veronesi (born in 1959) is an Italian entrepreneur and billionaire, best known as the founder of the Calzedonia Group. This group encompasses well-known brands such as Calzedonia, Intimissimi, Tezenis, Falconeri, Signorvino, Atelier Emé, and Cash & Carry. As reported by Forbes in December 2024, his estimated net worth stands at US$2.0 billion.
Early life
Born in 1959 in Ala, Trento, Italy, Veronesi completed his undergraduate studies in economics and business at the University of Verona in 1983. Following his graduation, he joined Golden Lady Spa, a prominent Italian pantyhose manufacturer established by Nerino Grassi. Veronesi is married to Nadia Grassi, Nerino Grassi’s daughter, who holds a 15% ownership interest in the Calzedonia Group.
Career
Veronesi appeared on the Forbes billionaire list for the first time in 2013. He founded Calzedonia in 1987 while still working at Golden Lady. Originally specializing in tights and stockings, the company broadened its product range to include lingerie and underwear during the mid-1990s. Today, the Calzedonia Group operates more than 3,000 retail outlets throughout Europe and the Middle East and maintains a controlling interest in Falconeri, a brand recognized for cashmere knitwear.
Early career
After completing his university education, Sandro Veronesi began his professional journey at Golden Lady Spa in 1984. At age 27, in 1987, he launched Calzedonia Spa while continuing his role as general manager at Golden Lady. The collaboration ended in 1993, after which Veronesi dedicated his efforts solely to Calzedonia with a mission to offer high-quality products at reasonable prices. The group grew by introducing Intimissimi in 1996—specializing in women’s and men’s underwear with €481 million revenue (+8%)—and Tezenis in 2003—offering underwear for all ages with €401 million revenue (+25%). In 2009, Calzedonia acquired a majority stake in Falconeri, focusing on knitwear and cashmere products. Additionally, Veronesi owns Cash & Carry by Calzedonia Group, which deals with bulk product sales.
International activities
The brands Calzedonia, Intimissimi, and Tezenis manage approximately 3,000 stores across over 30 countries worldwide. Their manufacturing operations are distributed among Italy, Eastern Europe, and Sri Lanka. The group employs nearly 20,000 individuals globally, including about 2,200 employees based in Italy. From €77 million sales in 1998, revenues surged to €1.295 billion by 2011.
Following a vertically integrated business model, production is centralized primarily in nations with lower labor costs while maintaining comprehensive control from headquarters through to individual retail locations. Manufacturing subsidiaries include four plants in Sri Lanka (responsible for most lingerie production), two facilities in Croatia, and one each located in Romania, Bulgaria, and Serbia, alongside three longstanding sites within Italy.
Other activities
"La Torre," a luxury hotel affiliated with the Calzedonia group, was originally designed by Studio Botturi Castiglione to renovate a rural estate and was later acquired by Sandro Veronesi. Situated near Lake Garda in Verona with convenient access to Verona Villafranca Airport, the hotel caters to both corporate clients and leisure travelers by capitalizing on local attractions such as vineyard tours.
In 2013, Veronesi initiated the SignorVino wine bar chain, applying centralized warehouse management and organizational expertise derived from his textile businesses; this operation is based out of Verona. Furthermore, he established the San Zeno foundation in 1999 to reinvest part of Calzedonia’s profits into educational programs and workforce training aimed at disadvantaged populations. Veronesi also holds an advisory position on Assofranchising’s board of counselors.
Recognition
In 2008, Veronesi was awarded "The Museo Nicolis Award" in acknowledgment of his competitive balance between price and quality, innovative design, and incorporation of cutting-edge materials. The following year, he earned the title of "Cavaliere del Lavoro" ("Order of Merit for Labour") in recognition of his significant impact on employment and economic development.