SPINETTA MARENGO, Italy — Hats off, Bogie.
The traditional Italian hat maker Borsalino, whose fedora has defined the rough-and-tumble images of Robert Redford, Frank Sinatra and Humphrey Bogart, has a plan to appeal more to women and millennials by pushing into high-end fashion, streetwear and even sportswear.
The recent troubles of the company, which has been rescued financially by a private equity fund, underline the difficulties facing Italian companies seeking scale to stay competitive and grow in the age of globalization.
Entering new markets, targeting new demographics and expanding retail presence all require cash. And even the best-laid business plan can be complicated by a company's bad baggage, and Borsalino came with plenty of that.
Colleen Barry, The Associated Press