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Official: Volkswagen Buys Italdesign Giugiaro
by
Bertel Schmitt
(IC: employee)
Published: May 25th, 2010
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Last week we told you that Volkswagen could announce this week that they would buy Giorgetto Giugiaro’s Italdesign. Sure enough, they did. At a joint press conference held today in Turin, both companies announced that Volkswagen Group will take a 90.1 percent stake in IDG. That buys them the company lock, stock and barrel, including the brand name rights and patents. To make things easier, the shares are being acquired by Audi’s Italian subsidiary Lamborghini Holding S.p.A., says a Volkswagen press release. The remaining 9.9 percent shares will stay in the possession of the present owner family Giugiaro, and they should be worth quite some money, now that an official valuation has been put on them.Giving Giugiaro what Giugiaro is due, VW’s CEO Martin Winterkorn said that “as the creator of the Golf I, Giorgetto Giugiaro laid a new foundation for Volkswagen design in the 1970s.”Giugiaro shaped the first Volkswagen Passat, Scirocco and the Audi 80. Volkswagen and IDG are collaborating on new projects such as the planned Volkswagen Up! model family.
Bertel Schmitt
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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Published May 25th, 2010 6:28 AM
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Besides the VWs mentioned above, Italdesign was also responsible for the Suzuki SX4, which ties in nicely with Volkswagen's recent purchase of a stake in Suzuki.
I can't think of one VW I find particularly attractive. I like the Phaeton though as an understated luxury cocoon, too bad it costs so much.
Ah, my old 1975 Mk1 Scirocco (mine was orange)... Man, I miss that car...
Not every one of my vehicles was a "Silver Coupe;" the first car I purchased with my own money was a green Scirocco identical to the one shown, though as it was a '75, it did not have the wrap around front turn signals. Somehow, the design just didn't seem to work for me in silver. Been a fan of Giugiaro [and VW/Audi products] ever since. Let's hope that they can make magic together once again.