Differently from several other Italian companies part of the FAD (food, design and fashion) trio, it will never end up into foreign hands neither it will go public. That is, at least, the policy that the Ferrero family repeatedly dictated for the company named after its name. Ferrero is in fact among the shrinking group of big made in Italy brands that are resisting globalization, as far as ownership is concerned. The sweets producer, still led by patriarch Michele Ferrero, boast 7.8 billion sales worldwide, with 25,000 employees and 11 thousand tones of yearly production. Ferrero did never even consider an Ipo and has always grown organically, as it always refused to take over its competitors, even when some very bargains were within reach.
The Alba, Piedmont based chocolate-maker story is just unique. It was founded upon the extraordinary creativity of its founder Michele, who every Wednesday gets together with his closest aides for the taste-proof of the newest products to be marketed. The soundness of its financial structure and a social approach with employees which dates back to the Sixties when Ferrero introduced a transportation service devoted to collect his workforce scattered around the small uphill villages around Alba, are also part of Ferrero success model. When his employees happened to get married a personal gift was granted from the boss, who also personally followed possible troubles in their families. The company never experienced a single hour of walkout nor a single temporary layoff. All this was behind the strength of its brand products: Nutella, Ferrero Rocher, Kinder, Estathé, Tic-Tac, just to mention a few. Mr. Ferrero, it was told, frequently asks his employees: «whom are you working for?». And as they answered «for you» he promptly replies: «Not really, you are working for all those who buy our products, just as I do». In other words, a company capable of investing in its very customers.
All that said, Ferrero is a great Italian brand which has its financial holding company based in Luxemburg. Nothing suggests that the aim of it was that of paying lower taxes, as its tax rate averaged 27.8% per year according to its financial statements, while only one third of its revenues are from Italy.