A few words about Carlo Battaglino…
After a Masterclass in Private Equity at the London Business School, Carlo Battaglino enters the world of Real Estate where he immediately realizes the importance of having full control of properties. So he establishes B&S Property Investments, which offers targeted advice to those, especially Italians, who want to invest in real estate in London. Subsequently, he enters the world of strategic consulting for various companies, assuming the role of Business Development for Alchemy Consulting. At the end of November 2017 he founds Lirecento together with Luca abbadini, which produces high quality handcrafted products made in Italy, at an affordable price and without intermediaries.
Lirecento just closed its first funding round for €1.2M with Global Founders Capital.
Every startup solves a need, usually personally felt by its founders. What was your starting point?
I personally started in the world of Corporate Finance and consulting, where I explored the topic of DTC and the future of product marketing. I have seen that increasing numbers of companies were aiming for and eliminating intermediation. So, I looked at high-quality production, at traditional tailoring, from a “different” point of view, which allowed me to cut costs and enter a market where there are still only a relatively small number of competitors.
You are a relatively young startup (date of incorporation is 2017), but how did you manage to convince a foreign international fund such as GLOBAL FOUNDERS CAPITAL to invest in your project with a significant capital increase?
Certainly, in this phase the strength of the team, our vision and an extremely clear goal were crucial. We shared it with GFC and they validated and approved it: being able to grow and expand by focusing on digital business channels getting traditional tailoring out there and developed.
On the business side, what are the hallmarks of your DTC model?
On the one hand, this model allows us to cut costs and for this reason we are one of the few tailoring trousers companies that come to the market with really competitive prices. On the other hand, it allows us to pay absolute attention to the customer. The direct relationship with the latter gives us the opportunity to understand and follow them in every step. We strongly believe in the after-sales customer experience and we scrupulously collect customer feedback by continuing to follow them in possible changes, returns or simple suggestions. These are small precautions that allow us to retain consumers whilst improving our metrics.
What are the next steps following your capital increase?
As I mentioned before, we achieved the goal of the recent capital increase thanks to our team and I strongly believe that the larger investments must be made to the people in digital companies. We want to expand our team work in both numbers and geographically and consequently we are contemplating expanding into other European countries with our brand. Even the new team members will share the strong and linear vision that allowed us to achieve this first important goal with GFC.