Flavio Briatore is an Italian entrepreneur who became famous for his successful leadership of the Formula 1, Benetton and Renault teams, who won the Design Cup three times and their pilots became world champions four times.
short biography
Flavio Briatore was born in Verzuolo near Cuneo, Italy, in the Maritime Alps, in a family of elementary school teachers. After receiving a diploma in geodesy, he began working as an insurance agent. In 1974 he moved to Cuneo, where he worked as a representative of the financial company CONAFI. At the same time, Flavio took up real estate in Sardinia, the Isola Rossa resort complex, which he sold to a businessman from Cuneo a year later. In 1975, Briatore co-founded Cuneo Leasing, the largest leasing company in Italy, which was later acquired by the De Benedetti Group. In 1977, he was appointed managing director of the company, the market leader in Paramatti coatings.
Acquaintance with Benetton
In 1979, Flavio Briatore moved to Milan, where he worked in the financial group Finanziaria Generale Italia. Here he met businessman Luciano Benetton, who would later play a key role in his career.
In the early 80s, Briatore took part in matters related to gambling. He received a sentence, but was later amnestied, and in 2010 rehabilitated by the Turin court. Briatore fully paid the damage to the victims.
In the mid-80s, an Italian entrepreneur was located in the United States, where, thanks to his close relationship with Luciano Benetton, he opened several clothing stores and actively contributed to Benetton's expansion into the United States market.
"Formula 1"
Flavio Briatore first attended the Formula 1 race during the Australian Grand Prix in 1988. A year later, Luciano Benetton appointed him commercial director of Benetton Formula Ltd (formerly Toleman), based in England. Shortly thereafter, Briatore was appointed Managing Director and turned Benetton into a competitive team. The Formula 1 manager brought a unique and innovative management style: he considered auto racing not only a sport, but primarily a spectacle and business, so he focused on marketing and communication as key elements to attract wealthy sponsors and prestigious partners.
Briatore hired and quickly fired engineer John Barnard. Tom Walkinshaw took his place and together they began to restructure Benetton. In 1991, Briatore quickly and visionarily attracted the young rider Michael Schumacher from the Jordan and began to build a team around a talented German. In 1994, Schumacher won the driver's championship, and then Briatore managed to form a strategic alliance with Renault, which in the next season gave Benetton an additional advantage thanks to a very powerful engine. In 1995, the team achieved double success when Schumacher won the World Drivers Championship and Benetton Formula won the Design Cup.
In 1993, Briatore created the search and management agency for racing drivers FB Management, which over the years has served such talented drivers as Giancarlo Fisichella, Jarno Trulli, Robert Kubica, Max Webber and Pastor Maldonado. The world champion Fernando Alonso, whom Briatore discovered and gave in charge of his agency in 1999, was only 18 years old.
At the end of 1994, an Italian entrepreneur acquired the French Ligier team, restructured it, and two years later she won the Monte Carlo Grand Prix with Pani. In 1997, Briatore sold Ligier to Alan Prost, who renamed it the Prost Grand Prix (the team ceased to exist in 2002).
In 1996, he bought the Minardi and a year later sold it to Gabriele Rumi. In the same year, Michael Schumacher left the Benetton and moved to the Ferrari.
In 1997, with the consent of the family, Benetton Briatore decided to leave the team, sold his shares in order to finance and conduct his new project, remaining in Formula 1. He created the Supertek company, which employed 200 people, and became the leading supplier of engines for Formula 1. From 1998 to 2000, the Supertech supplied engines to the Benetton, Williams, Bar, and Arrowz teams .
Children's shoes and pharmaceuticals
In the mid-90s, Briatore decided to diversify his interests. In 1995, he acquired the manufacturer of children's shoes Kickers and shortly afterwards resold it. Then in 1998, he bought the small Italian pharmaceutical company Pierrel. It was later acquired by an American group. Thanks to the dynamic and innovative business plan of Briatore and entrepreneur Canio Mazzaro, Pierrel was reconstructed and in 2006 successfully placed shares on the Italian stock exchange. A few years later, she became an international company and was included in the list of awarded for achievements in the field of clinical research. In 2007, Briatore sold most of his shares, but still owns a small share of the enterprise.
Luxury Business
In 1998, Briatore opened a nightclub on the Emerald Coast: Billionaire ("Billionaire") quickly became a favorite entertainment destination for the wealthy in the world. For several years, the institution has gained international fame, becoming a synonym for glamor and quality relaxation. The brand today is a holding of "luxury services", which includes night and beach clubs, restaurants, hotels and resorts.
Renault Team
In 2000, Flavio Briatore arranged for the purchase of Benetton by Renault and the French car manufacturer appointed him managing director of the Renault F1 team. Two years later, he also became Managing Director of Renault Sport. The Italian businessman rebuilt a team of more than 1,100 people who worked at enterprises in France and the UK, having moderated the budget in his own corporate style, optimizing internal human resources, pursuing aggressive marketing and communication strategy. Despite the fact that the Renault budget was the 5th among the Formula 1 teams, the Renault F1 progressed rapidly and in 2005 came to a double victory: Alonso won the drivers championship, and the team received the Design Cup. The same impressive results were repeated in 2006, when the Renault F1 won titles in both championships.
GP2 Series
In 2005, Briatore conceived and created the GP2 series, a championship that was to become a training ground and showcase for talented drivers and engineers. In a short time, GP2 has become the most popular and respected series of competitions after Formula 1. Riders such as Lewis Hamilton, Heiki Kovalainen, Nico Rosberg, Pastor Maldonado and Roman Grosjean were opened here .
In 2010, Briatore sold the successful GP2 to the CVC group, which already owned Formula 1.
British football
In 2006, he and Bernie Ecclestone acquired the Queens Park Rangers English football team. During the implementation of the four-year plan, the club rose from the Championship to the Premier League. In 2011, after the first 3 matches in the top division, Briatore and Ecclestone sold the team to Malaysian entrepreneur Tony Fernandez.
Conflict with the FIA
In July 2008, Formula 1 Team gathered to form FOTA. Briatore took on the role of its commercial director (appointed by President Luca di Montezemolo) and negotiated with the FIA about the future of Formula 1. FOTA requested a reduction in costs due to the global economic crisis and the introduction of new rules aimed at increasing the entertainment of competitions. The federation introduced its own 2010 championship plan, which led to conflict. After a meeting organized by Briatore at Renault F1 headquarters on June 18, 2009, eight FOTA teams rejected the FIA's offer, decided to secede and organize their own championship. In the end, the parties came to an agreement and on June 29 at the World Council Max Mosley announced his resignation from the post of president of the FIA, saying that the International Federation would not introduce any changes in 2010.
Suspension and rehabilitation
Not surprisingly, after a month, the FIA launched an investigation into one of last year’s races, the 2008 Singapore Grand Prix. The Federation accused Briatore, as head of the Renault F1, of forcing driver Nelson Piquet Jr. to stage an accident during the race in favor of his friend’s victory by the command of Fernando Alonso. On September 21, 2009, the FIA World Motor Sport Council (despite confirming the victory of Alonso and Renault), suspended Flavio Briatore from participating in Formula 1 and conditionally disqualified the Renault team. He filed a lawsuit against the International Automobile Federation, demanding to restore his reputation, and on January 5, 2010 a court in Paris annulled his removal, stating that the procedure was illegal. The Tribunal also ordered the FIA to pay € 15,000 in damages to Briatore and ruled that he could return to Formula 1 starting in the 2013 season.
Persecution in Italy
In May 2010, Italian customs officers detained a Force Blue yacht on charges of tax evasion. The owner of the vessel is a company whose beneficiary is Briatore. Prosecutors imputed the fact that the vessel was engaged in charter operations. In July, a judge stated that Force Blue could resume business under the supervision of an authorized manager until the case is closed. Italy's financial police also seized € 1.5 million from Briatore’s bank accounts for tax evasion. However, the prosecutor’s office reversed this decision and the amount was immediately returned to its owner.
Global expansion
In 2011, the international expansion of Billionaire Life continued on all fronts, including the Italian luxury men's clothing line Billionaire Couture, launched in 2005. The company is a joint venture with the Percassi business group, and the brand’s presence in the global market is growing steadily.
In November 2011, Flavio Briatore launched the first branch of his famous night club in Istanbul.
In the spring of 2012, an Italian entrepreneur opened the prestigious CIPRIANI Club Monte Carlo and two summers in Porto Cervo: Billionaire Bodrum and Billionaire Monte Carlo.
The ambitious Billionaire Resort project, a luxury residential complex in Malindi on the Kenyan coast, was completed in 2013. A modern and environmentally friendly, stunning resort is located next to the Lion in the Sun spa hotel.
Today, Billionaire Life has approximately 1,200 employees in Europe and Africa.
In April 2013, Briatore gave her a new direction, selling most of its leisure and entertainment divisions, including Billionaire clubs in Porto Cervo, Istanbul, Bodrum and Twiga Beach Club to Singapore's prestigious investment fund Bay Capital. The goal of the alliance is to expand the brand in Asia and the rest of the world.
In September 2012, Briatore first appeared in the Italian version of the famous television show The Apprentice as Boss. The show became a cult, and in 2014 the second season was filmed.
Flavio Briatore and his women
The Italian entrepreneur, who constantly appeared in scandalous novels with top models, including Naomi Campbell and Heidi Klum, who gave birth to his daughter Helen, in 2008 married model Elizabeth Gregorachi. The couple has a son, Falco Nathan, born March 18, 2010.