HomeResearch & Knowledgeback to Homeback to Research & KnowledgeDe Agostini: Repurposing the business & the familyback to

Case Study

De Agostini: Repurposing the business & the family

By Benoit F. Leleux, Marta Widz and Guido Corbetta

20 pages

June 2019

Order this case study

Reference: IMD-7-2072

MILAN (ITALY), SEPTEMBER 2018. The Strategic Lab at De Agostini, part strategic think-tank and part assessment tool for the next-generation talent of the Drago-Boroli family, owners of De Agostini, was brainstorming the future direction of the diversified, family-owned group. After almost 100 years in the publishing and printing business, the third-generation family leader Marco Drago set the family firm on a radical new course, which included globalization and diversification across media and communication, gaming, and financial services to create a powerhouse, with entities listed on three different stock exchanges. However, diversification did not come without its challenges. Could portfolio repurposing also serve to anchor the family’s identity? Were family values properly embedded in the current structures and investments? Should the holding structure be perennialized or be treated as a temporary arrangement until the next major liquidity event, when assets would again be refocused on a single industry? Did the legacy publishing business still serve a purpose or should it be disposed of? Emotional ties ran deep, but so did the losses… and those were not sustainable. Could it be turned around or pivoted to capture the latest digitalization wave?

Learning Objective

strategic pivoting of the family business
repurposing of the business
managing the legacy
training the next generation
managing succession

Keywords

Family Business, Strategy, Sustainability, Succession Management, Next Generation, Portfolio Management, Pivoting, Culture, Legacy

Settings

World/global, Italy
De Agostini, Media, Business Management Services, Communication, Finance and Insurance, Financial Services
2017-2018

Available Languages

English

Related material

Teaching note, Video

IMD case studies are distributed through case clearing houses. In order to browse the collection and purchase copies please visit the links below.

The Case Centre

Cranfield University

Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]

Harvard Business School Publishing

60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]

Asia Pacific Case Center

NUCB Business School

1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]

IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Keep reading

Article

Optimizing omnichannel assortments and inventory provisions under the multichannel attraction model

Assortment optimization presents a complex challenge for retailers, as it depends on numerous decision factors. Changes in assortment can result in demand redistribution with multi-layered consequences. This complexity is even more pronounced for ...

General Management

By Andrey Vasilyev, Sebastian Maier and Ralf W. Seifert

in European Journal of Operational Research

August 2025, vol. 324, no. 3, pp. 799-813, https://doi.org/10.1016/j.ejor.2025.01.035

Article

The anatomy of family business conflict

Understanding conflict in family businesses is a complex but essential study area for practitioners and academics. To enhance theoretical precision and provide practical insights, this article presents a comprehensive framework of family business ...

Customer Centricity Family Business

By Marco Mismetti, Barbara Del Bosco, Cristina Bettinelli and Alfredo De Massis

in Journal of Family Business Strategy

June 2025, vol. 16, no. 2, 100660, https://doi.org/10.1016/j.jfbs.2025.100660

Article

Boundary conditions for organizations in the Anthropocene: A review of the planetary boundaries framework 10 years on

We systematically review business research concerning the planetary boundaries framework: A natural science framework that identifies nine Earth system boundaries that govern the safe operating space for humanity. Ten years after the introduction ...

Sustainability

By Amanda Williams, Paolo Perego and Gail Whiteman

in Journal of Management Studies

June 2025, vol. 62, no.4, pp. 1811-1846, https://doi.org/10.1111/joms.13150

Article

Biodiversity Matters - Business Strategy

Biodiversity matters for long-term business survival. Here's how companies can build resilient, nature-based strategies to address environmental risk.

Why your well-being initiatives aren’t working – and how to fix them

It takes more than a few yoga classes to tackle the problems of burnout, financial stress, and poor mental and physical health. Consult the checklist to gauge the effectiveness of your current approach to well-being and check out the three charact...

By Dr. Wolfgang Seidl and Gillian Pillans

in I by IMD

Article

How to win over DE&I doubters and disruptors

Effective DE&I strategies are proven to enhance performance, yet they still face resistance. Here's how to convince the naysayers.

Diversity and Equity and Inclusion

By Josefine van Zanten and Luca Condosta

in I by IMD

Article

Lessons in digital transformation from industry

In an interview with IMD’s Didier Bonnet, aerospace veteran Mike Ambrose shared his insights on pulling off a successful digital transformation in one of the world’s most complex industries.

By Didier Bonnet

in I by IMD

Article

AI Agents in Business Operations - C-suite Agendas

In mature AI adoption, AI agents embed into business operations, adding complexity and unlocking major opportunities, says José Parra Moyano.

Artificial Intelligence

By José Parra Moyano

in I by IMD

Article

Ambidextrous Leadership - Building Future-Ready Leaders

Ambidextrous leadership thrives on non-linear careers. Diverse experiences fuel innovation, adaptability, and sustainable performance.

General Management Leadership Talent Management

By Richard Roi and Luca Condosta

in I by IMD

Article

Steady profit: Learning the lessons of future-ready companies

In an increasingly uncertain world, how do companies plan for the long term? Take this short quiz to test your knowledge of future readiness, and read on for insights from future-ready companies.

By Howard H. Yu

in I by IMD

Optimizing omnichannel assortments and inventory provisions under the multichannel attraction model

By Andrey Vasilyev Sebastian Maier and Ralf W. Seifert
in European Journal of Operational Research August 2025, vol. 324, no. 3, pp. 799-813, https://doi.org/10.1016/j.ejor.2025.01.035

Summary

Contact

Research Information & Knowledge Hub for additional information on IMD publications