Two young entrepreneurs who started an award-winning international ice cream business from scratch are urging talented Italians not to abandon their recession-hit country.
Friends Guido Martinetti and Federico Grom started their Grom ice cream company in 2003, when the pair, in their twenties and with little capital, set out to revolutionize Italian gelato despite knowing nothing about it.
Inspired by Italy’s gourmet and eco-friendly Slow Food movement, the ice cream was a hit and there are now 58 Grom parlors across France, Italy, Japan and the US, with booming profits despite the crisis.
“Neither of us knew how to make ice-cream, that was the first problem. Worse than that, we didn’t have any money,” joked Federico Grom, 39, who confessed that the initial business plan was “not very sound at all.”
However, Martinetti — inspired to act by Slow Food founder Carlo Petrini’s comments that it was no longer possible to find “ice cream made with excellent ingredients” — refused to give up on his plan to plug the gap in the market.
He took out a loan of 32,500 euros (US$40,800) and, with Grom’s savings, they opened their first shop in Turin, the Italian city that is home to the Slow Food movement, which strives to boost local cuisines and respect the environment.
The pair say that despite a sense of resignation and frustration among Italy’s youth, who have been hit hard by the economic crisis and recession that followed, the answer is not to flee the country, but to become innovators.
According to Confimprese Italia business association, about 120,000 Italian youths went abroad in 2008 and 2009, 70 percent of them graduates.
The economic outlook has since worsened, with Italy re-entering recession last year and youth employment at a record high in May.
The country’s young must disregard “the myth that everything is easier abroad” and instead seek out the “great opportunities” at home, the pair said.
Martinetti and Grom, committed at first to recreating the traditional nut and chocolate gelatos of the region with pre-industrial methods, began sourcing ingredients such as coffee beans and pistachios from small farmers globally.
Determined to use only fresh seasonal fruit, they bought a 15-hectare farm in the Piedmont region in 2007. They named it Mura Mura, which means “slowly” in Madagascar, as homage to the Slow Food philosophy.
From dark chocolate to pistachio or liquorice, their ice creams are made with organic eggs and cocoa and coffee from Central America, while fig, mandarin and apple-flavored sorbets are made with Italian mineral water.
“We grow certain fruits so as to be able to control how they are grown and have the best quality ingredients to make excellent sorbets,” Martinetti said as he showed off the organic farm in Costigliole d’Asti in the Piedmont hills.
The mixtures are shipped frozen to Grom parlors abroad from the farm and factory outside Turin and are then churned on location.
Despite the economic crisis, Grom’s turnover has jumped from 250,000 euros in 2003 to 30 million euros to day, and the company has sold 5 percent to Italian coffee maker Illy and another 5 percent to a partner in Japan.
Martinetti and Grom say they hope their success can inspire some of the 36 percent of 15 to 24-year-olds now unemployed in the country to have faith in themselves.
“Italy is one of the most beautiful countries in the world. It still offers great opportunities and is rich in talent,” Grom said. “I hope that lots of young people still believe in themselves because they can turn their dreams into reality.”
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new