22 March 2018
Giglio Group, the global multimedia television network founded by Alessandro Giglio and quoted on the Italia STAR index, and Acque Minerali d’Italia, the holding company owned by the Pessina family which controls well-known mineral water brands including Norda, Sangemini and Gaudianello, yesterday announced the creation of a joint venture christened Cloud Food. Set up as an innovative alternative distribution channel for Made in Italy foods and beverages, the platform will allow orders to be handled flexibly through online subscription, partially by means of an innovative T-commerce, i.e. the e-commerce platform available on Giglio Group’s TV channels. Starting with Ibox65, the new version of digital terrestrial channel 65 dedicated to the world of home, food, furniture, design and family, which after the launch yesterday is Italy’s first T-commerce channel.
Cloud Food will therefore be the first digital company to introduce on the international market a fusion between product promotion on conventional media (TV and video channels) and sales via an online platform, thus revolutionising the e-shopping experience with the new integrated e-commerce 4.0 model.
Capitalised 51% by Giglio Group and 49% by Acque Minerali d’Italia, Cloud Food could in the future open the doors to new shareholders who would synergise the project, explained Pessina and Giglio. Today the company has parity of governance, with the appointment of two administrators by each member firm. Alessandro Giglio was appointed as president. In any case, in commercial terms the platform is open to any player in the food and beverages sector.
Consisting of three divisions (food digital, food distribution, food media), Cloud Food will provide tailor-made e-commerce 4.0 services: from the creation of e-commerce platforms to the management of food and beverage products and consumer goods on all the major global marketplaces. Cloud Food will be able to link the availability of products on an e-commerce site to the 40-plus platforms around the world with which Giglio Group is connected. The platform will be capable of managing weekly, monthly and seasonal purchases, suggesting to the user-consumer an appropriate mix of products by using predictive models based on buying history. Thanks to a specific algorithm, the system will also be able to automatically prearrange statistically estimated re-orders of certain items when they are presumed to be on the point of going out of stock.
Acque Minerali d’Italia operates eight factories across Italy and 25 bottling lines for glass and PET formats. In 2017 the group’s overall production was in excess of 1.2 billion litres, with a turnover of approximately 140 million euros (+7%) and EBITDA of 12-14%. In September 2016 the group issued a five-year bond of 6 million, which was underwritten entirely by the private debt fund Antares AZ1, managed by Futurimpresa sgr (controlled by Azimut Holding).
Giglio Group, meanwhile, moved to STAR on Tuesday 20 March, having previously been quoted on AIM Italia. In the past, Giglio Group also issued a mini-bond (of 3.5 million) which was listed on ExtraMot Pro. The bond was underwritten by Zenit sgr (2.9 million) and Banca Sella (300,000 euros), with the remaining underwritten by other investors.PREVIOUS