Italian Businesses Struggling


The substantial rate of spreading with the coronavirus has gridlocked another country, with this nation now being Italy. The recently prompted lockdown is forcing Italian companies to have a limited production, with the large-scale corporations claiming that business hasn’t been altered with these increasing restrictions. Business analysts claim that companies within the Lombardy Region are desperately trying to ease the minds of consumers, with the finance capital of Milan facing the most severe backlash against the coronavirus travel restrictions. It should be noted that this lockdown has also forced elementary schools, universities, cinemas, nightclubs, theatres and bars to all shutdown operation on a significant level.

This outbreak couldn’t have come at the worst time for Italy, with their economy recently shrinking by substantial volumes. The most prominent corporations in the nation have faced dwindling sales, with that including Ferrari and Fiat. Regardless these companies claim that business hasn’t been altered and loss of profits fall under false reports. These corporations aren’t the only ones claiming nothing has been affected, with Borsa Italiana expressing that their stocks haven’t been changed. These statements followed after the London Stock Exchange shut down Italian S&Ps at 11.2%, which is the lowest seen in a prolonged period.

One of the towns under this substantial lockdown holds the Ferrari Headquarters, with them claiming that operations are standing at average percentages and that their Formula One ventures have been unaffected. This extends to their suppliers, who Ferrari claims haven’t been affected by the coronavirus either. Considering that Ferrari is an Italian-based car manufacturer that exclusively purchased their parts from local retailers, it’s highly-unlikely that Ferrari hasn’t seen any alterations to production rates. Consumers claim that these blatant lies are detrimental to the long-term trust behind certain brands.

Honest Claims

The Luxottica Eyewear Conglomerate, which is located in Milan with their headquarters, mentioned that all production facilities are operating at average volumes. Considering this conglomerate of brands, which include Oakley and Ray-Ban, operate production facilities worldwide, it’d be shocking if their claims of regular production rates weren’t honest. Regardless this outbreak has prompted severe declines in profit for multiple corporations, with the Italian Government expected to have to bailout certain brands moving forward.