Since its public listing on Euronext in 2015, Nicola Perin has served as CFO of Italian wholesaler OVS. Previously, he was CFO of the conglomerate Grupo COIN, from which OVS was filmed. OVS operates brands including OVS, Upim, Golden-point, Stefanel, CROFF, and Les Copains, managing a network of 2,600 stores in Italy and abroad.
Global Finance: In your 10 years directing OVS funds, what are you most proud of?
Nicola Perin: What makes me proud, though not because it is a very difficult job, is that I have always kept the machine in good working order. For a CFO, whether in a listed or private company, nothing is more important than a reliable management system: one that produces accurate information, supports mandatory disclosures, and gives managers the confidence to make sound decisions. Without that foundation, any other success—no matter how ambitious—would be less certain.
Among the results I value most, one stands out. In 2014, myself and our CEO, Stefano Beraldo, decided to spin off OVS-Upim from Coin Group to prepare it for listing. It proved to be a very successful project, providing OVS with the financial resources needed for a new phase of growth: expanding our network, increasing capacity, and strengthening our product portfolio. Build the financial and administrative base for subsequent expansion.
GF: And lately?
Perin: We have always paid great attention to sustainability. Clothing retail is considered the second most polluting sector after energy, and although we are much smaller than global groups like Inditex, H&M, or Gap, we have always taken these issues very seriously.
Our dedication often places us among the leaders, if not always at the top, and creates tangible financial value as well. In 2022, I proposed and led the issuance of the first Italian bond linked to sustainability. [SLB]. It was a remarkable milestone; received attractive financing at 2.25% and strengthened our market profile. During that time—between 2022 and 2024—sustainability was a dominant theme, and limited supply meant strong demand for investors looking to add green-labeled products to their portfolios. We plan to collect 120 million euros; we raised 160 million euros.
GF: Is sustainability still important, given the current political climate?
Perin: Trends aside, the next time we issue a bond—whenever that’s possible—I’ll still aim to highlight the company’s sustainability progress. Interest may not be as strong as it was a few years ago, but I believe that a bond linked to sustainability remains the right choice for OVS, because it makes our commitment clear.
SLB requires us to define ESG specifics and obtain third-party verification during the life of the bond. If we’re not on track, bond costs go up. For example, the coupon may increase from 2.25% to 2.45%. In other words, the cost of financing is directly linked to how successfully we deliver on our development strategy.
GF: How deeply are you incorporating AI into the financial profession?
Perin: In management processes, we rely more on robots than on AI. By robots, I mean software that automates repetitive tasks that its colleagues once handled step by step. There is some digital intelligence involved, but it’s essentially automatic. A simple example is the DURC audit in Italy—which ensures that providers are up-to-date on their contributions to social security, insurance, and the building fund—which is now using robotic processes.
In management control and financing, AI is becoming increasingly useful. It helps us to write clear, quick comments and make detailed analysis; a task that would take a human eight hours can be replicated with AI.
But the real frontier for us is in predictable sales. At OVS, Stefanel, Goldenpoint, and all our products, AI has been supporting forecasting for years. We all know that coats are sold earlier in Bolzano than in Palermo, but AI goes much further; it tells us how many to ship, what sizes, how quickly to switch from cotton to wool blends, and what items to replace when stock runs out. It takes simple, intuitive patterns and turns them into hundreds of thousands of variables, allowing us to make more accurate decisions.
