Mergers and acquisitions, the effect of the global pandemic on M&A in North America and in Europe

The coronavirus crisis permeated every aspect of society, from politics to economics, from culture to personal relationships. In the financial sector, one of the most important consequences has been the collapse of Mergers & Acquisitions activities in Europe and the United States.


The world of mergers and acquisitions has always survived and recovered from previous economic crises, and as happened in the past, uncertainties in the markets have already contributed to delaying or interrupting acquisition plans.

This time, however, the situation is more complicated: the impact of the pandemic has not only been on the financial system in general, on the judgement of sellers and the willingness of buyers to close short-term deals. Other factors have influenced mergers and acquisitions. These include contractual terms, new due diligence issues that have arisen, the availability, pricing and time needed to obtain the necessary regulatory and other third-party authorisations for transactions.

The American crisis in the merger market

Global mergers and acquisitions have already plummeted following the coronavirus crisis and by the end of March 2020 had almost stopped completely. Mergers and acquisitions levels in the U.S. declined by more than 50% in the first quarter dropping to $ 253 billion compared to 2019, but most of those transactions were concluded or closed early in the quarter before the crisis spread all over the world.

Furthermore, the strategies of companies that are typically on the acquisition side have been redirected towards protecting their assets by abandoning longer-term objectives such as investments in growth through acquisitions. Similarly, private equity institutions have focused their efforts on strengthening or saving the companies in their portfolio, at the expense of newly traded assets.

An American law against Mergers & Acquisitions?

A proposed act was introduced in the United States Congress known as the Pandemic Anti-Monopoly Act, a law aimed at freezing the takeover of companies with over $ 100 million in revenue and financial institutions with over $ 100 million in market capitalisation for the duration of the crisis.

The proposed act is similar to the one introduced by the Republican Congressman David Cicilline, Chairman of the Subcommittee on Antitrust, Commercial and Administrative Law. The aim of the two measures is to block speculative transactions at a time when the ratings of many companies are dropping due to the economic repercussions of the health crisis.

The European market is also slowing down

The effects of the pandemic have also been felt in M&A in Europe where the sector appeared to be in a good state until the emergence of the crisis. In the first quarter of the year, 2,677 transactions were closed for a value of € 281.3 billion. This is progress, respectively 15.6% and 11% compared to the same period last year.

The spread of coronavirus in Europe has called prospects into question, bringing M&A transactions to practically zero. According to the statements of some advisors in the sector, about 90% of payment instructions have been put on hold.

European companies and the risk of foreign influences

To protect each country’s industrial heritage, EU countries are considering necessary countermeasures, including controls on foreign investment, strategic strengthening of holdings and nationalisation. The European Commission also urged member states to “use all options to protect critical European companies from foreign takeovers or influence that could undermine our security and public order”.

“As in any crisis, our industrial and corporate assets are under stress. The resilience of our industries, their ability to continue to meet the needs of EU citizens and to preserve strategic resources and technologies is fundamental”, stated a spokesperson for the European Commission.

The EU is concerned that foreign investors may attempt to acquire European companies “with the goal of taking control of key technologies, infrastructures or knowledge”. The EU is also concerned about strategic and delicate issues like security.

Healthcare remains stable and IT is growing

Healthcare has seen an increase in activity compared to the first quarter of last year, in line with what has been happening in recent years. Furthermore, the global pandemic is demonstrating how the sector can be a strategic asset against the recession so it is possible that M&A transactions in this context will continue to grow.

On the other hand, one sector that is experiencing a growth phase right now is Information Technology. IT companies specialising in service delivery and cybersecurity seem to be better able to defend themselves against the risks of a recession. On the one hand, citizens have reached a level of using IT infrastructures that has never been seen before, on the other, companies have an ever growing need to protect themselves from new technological risks and to be able to manage their business safely.

Evidence in the professional translation services market

During the entire time we were in lockdown, Intrawelt continued to work non-stop. In compliance with the measures in place to safeguard everyone’s health, the translation agency continued to manage a significant number of translation projects thanks to remote working.

During these difficult months we translated several financial statements and financial reports, we have worked on remote interpreting projects for business negotiations but we have seen, especially in recent weeks, a drop in the demand for the translation of financial documentation related to the closing of merger and acquisition agreements, in line with our analysis so far. We understand and share the concerns regarding the risk of weakening national industrial systems for the benefit of external speculation, our hope is that effective protection measures will be taken as soon as possible, for the good of the whole system and of the many companies involved, some of which we have the privilege of working with constantly.

References and further reading:

COVID-19’s Impact on Global M&A (Boston Consulting Group)

Coronavirus effects on private markets (Pitchbook)

The Impact Of The Coronavirus Crisis On Mergers And Acquisitions (Forbes)

Elizabeth Warren, Alexandria Ocasio-Cortez want mergers halted due to COVID-19 (Pitchbook)

EU helps protect weak firms from foreign takeovers (BBC News)

Vestager urges stakebuilding to block Chinese takeovers (FT)

Coronavirus: EU fears a rise in hostile takeovers (Deutsche Welle)

alibaba marketing translations

Singles’ Day 2019, behind Alibaba’s success

China 1, United States 0, and it’s kick-off time. The rivalry between E-commerce giants Alibaba and Amazon will in all probability be won by China again this year.


Cina ecommerce

Just a few short hours after the end of the eleventh edition of Singles’ Day, China’s equivalent of Black Friday in the US, Alibaba closed at 268.44 billion yuan, which is equal to 38.37 billion dollars, in 24 hours. The first billion was earned just one minute and eight seconds into the event. These mind-boggling figures are certainly the result of a mix of demographic, media and economic factors.

Here, we are going to look into the dynamics that influenced the purchasing choices of Chinese consumers during the day rather than sales and profit figures.

In one study conducted by AlixPartners a month before the event, 2,000 Chinese consumers were interviewed. The goal was to get a better idea of how consumers were feeling during a period of economic uncertainty and to identify new trends in purchasing decisions during Singles’ Day.

The results of the study reveal an average expenditure forecast of RMB 6,265 this year ($893.99), an increase of 54% compared to the previous year.

Of the consumers interviewed, 57% estimated that they would spend over RMB 5,000 ($713.48) this year and 18% predicted that they would spend more than RMB 10,000 ($1,426.96). This expected increase shows that the slowdown in Chinese economic growth and the current trade war has not affected the general propensity to shop on Singles’ Day.

Marketing trends for Singles’ Day 2019


Electronic coupons and targeted banners still work, but the launch of new products and live streaming have strongly influenced traffic and sales. Conversely, engagement channels through text messaging, offline announcements and e-mail seem to have lost their appeal. Even social media channels have strongly impacted online sales, with only 16% of those interviewed stating that they do not pay attention to social commerce channels.

Generally speaking, Chinese consumers are rather open to marketing innovations, even if the data show that methods such as live streaming work only for impulse purchases or for products that consumers are very familiar with. However, new products require more research and careful price comparisons.

Companies that performed best were probably those that were able to understand the nuances of promoting different products. Blindly investing in new trends without understanding the needs of consumers can result in low returns and weak sales, especially on such an important media occasion like Singles’ Day, which represents a showcase with a strong impact for global brands.

The effects of American trade tariffs on Singles’ Day


Speaking of large showcases, over the next few days, we will most certainly have more in-depth data on the results of the eleventh edition of Singles’ Day, but it is not difficult to forecast a decrease in sales for American companies.

One of the main trends in consumer purchasing decisions was probably the ongoing trade war between the US and China. The survey shows that 78% of respondents believe that buying American brands will be affected by tensions between China and the United States, and 70% said that the trade war will have an impact on their overall purchases.

More than half of respondents (51%) indicated national loyalty as the main reason for not buying American brands, followed by quality (27%), the price (16%) and speed of delivery or customs (6%). As a general rule, the majority of Chinese consumers seem to prefer local brands (61%).

Alibaba and Amazon, better sales thanks to professional translations


It sounds like a cliché, but the title of this last paragraph does nothing more than illustrate the success stories of brands that have been able to conquer foreign markets.

Remember the controversy that arose after the Dolce and Gabbana advertising campaign? That was probably the most glaring case due to the fame of the brand involved, but it is certainly not the only case of sloppy localisation.

A country like China, with extreme internal inconsistencies and a cultural identity as strong as it is heterogeneous, looks at foreign products with two perspectives. On the one hand, for many Chinese people, foreign products are synonymous with high quality and, for that reason, they are in high demand. The events of the last few years, however, have begun to create a feeling of disinterest towards international brands due to the poor ability of the latter to adapt their communication to the cultural identity of the local population.

In this context, a professional translation agency like ours is able to provide more than just quality translations into Chinese. Our job, in these cases, is to work alongside our customers as language consultants, with the support of Chinese mother tongue linguists, to study the communication formulas suitable to provide a terminology register that fits the reference market.

Specifically, Intrawelt is available to step in and help:

  • Identify the cultural characteristics of the target audience;
  • Pinpoint the specific language of the target audience;
  • Avoid using language that is too complex or, on the contrary, too simple;
  • Identify the right target by meeting the needs of the real audience.

For further details or to send us a request for information on our services, feel free to contact us at any time.

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Cross border trade

Cross-Border Trade: the current state of affairs in transnational e-commerce

The technological revolution of the last 10 years has ushered in new communications infrastructure which has redrawn geographic borders and time lines for global commerce. Almost the whole planet is inside a system of technologies capable of reducing geographical distances between citizens and, in the context of trade, between companies and consumers.

The advent of the digital economy has changed human relations, allowing a speed in long-distance communication that is now comparable to physical proximity. The natural consequence of a revolution of this magnitude has been the transformation of all other types of relationships, political, cultural and commercial. The latter, in particular, have been overwhelmed by the introduction of new infrastructure that has eliminated geographical distances in the sale of goods and services.

In this context, the issue of Cross-Border Trade has become a central element to business strategies. Every company can access potentially suitable infrastructure to promote the sale of its products on a global market, and on the flip side, every consumer is able to buy goods and services from anywhere in the world with just one click.

Purchasing choices and linguistic variables in cross border trade

cross border trade eurostatA recent report from Eurostat has shown an ideal situation for European and global e-commerce. In the UK, for example, 86% of Internet users shop online. The percentage is 84% in Sweden and 82% in Germany. In Italy, the percentage is around 43%, compared to the European average of 68%.

A more careful analysis, tells us that some markets like the United States, Britain and Australia prefer to make purchases from local retailers or from the big giants of online sales (like Amazon). Contrary to those finding, the Eastern European market shows no hesitation in buying from foreign e-commerce portals. This is what emerges from one study conducted by Paypalon global buying habits.

traduzioni linguistiche ecommerce According to the respondents’ answers, the choice to buy products from local online shopping sites is mainly due to language.

On several occasions, we have referred to the article written a few months ago about the role that Linguistic identity plays in the conquest of foreign markets, and the research conducted by Paypal partially confirms our thesis. Analysing the data from the infographics above and below, it appears that, overall, an important part of the world population does not feel safe buying products on portals and foreign websites where they cannot use their own language.

Multilingual e-commerce, a necessary condition

One of the peculiarities of a market that would like to be defined as transnational is its geographic extension without borders. At present, however, the e-commerce sector is confronted with a large share of consumers who purchase exclusively from national platforms and distributors. To be agenzia di traduzione ecommerceprecise, there are two main purchasing channels: national and large global platforms such as Amazon or eBay.

In both cases, there is a difficulty for companies in conquering transnational markets directly through their own channel and brand. Without a doubt, there are a variety of factors that make the process of digital globalisation of companies difficult. There are still customs restrictions, geographical, economic and political variables, but one of the causes is also traceable to the language management of a company’s e-commerce that is not oriented towards global customers.

According to the 2019 Idealo report, only 8% of digital stores in Italy present their e-shop in a second language other than Italian. Spanish and British e-commerce lead the way with 24% of portals in two languages, followed by Germany at 12% and by France at 10%.

Professional Translation and Localisation Services in e-shopping

Once the strategic importance of multilingual management of e-commerce has been defined, there are two ways that a company can achieve the goal of transnational sales. The first is to translate all the pages of the site into different languages, depending on the target national markets. For example, if the goal is to sell products in Latin America and Europe, translation and localisation process the consequence will be to translate each page of your site into Spanish, Portuguese PT and Brazilian Portuguese, English, French, German, Italian and Russian.

Once the target languages have been defined, relying on professional translation agencies such as Intrawelt facilitates subsequent steps and reduces project management times. In fact, in addition to the translation of all the website pages, the most structured and professional agencies are able to deal independently with all the content management, from translation to online publication.

A second option, while more complex, but certainly more effective, goes beyond simply translating each individual page and includes the localisation of the content for each country. With the term localisation, we mean the creation of a website from the ground up, a site with content that has been created independently for each country, using the local language and therefore identifying communication with the customs and culture of local consumers. This requires a higher quality of work in the development of texts and content suitable for the local language, with a great advantage in terms of effectiveness.

The linguistic service agencies that offer localisation services , in fact, go beyond simply translating the text produced. They also offer linguistic advice in choosing the actual content. In this way, local consumers are not visiting a foreign website translated into their language, but will find a portal in which they will recognise common elements with their linguistic and cultural identity, strengthening the relationship of trust that still persists between the retailer and consumer.

Translation services in Food Industry

Why the food industry needs professional translation services

Two main industrial sectors are involved in the health and welfare of society: the pharmaceutical industry and the food industry.

Along with the pharmaceutical industry, the food industry plays an essential role in social development and well-being. Therefore, it’s no coincidence that in recent decades the Food & Beverage sector has experienced profound transformation in both production technologies and food communication.

New sensitivity in the food industry

It’s a well-known fact that global food habits are undergoing substantial change. Air pollution, the use of pesticides, hectic and more sedentary lifestyles, these are only a few of the factors behind this shift. The appearance of new diseases, the proliferation of food intolerances and documentation of psychosomatic food-related disorders have not only been a wake-up call for public health, but have also contributed to the development of a new-found food awareness.

The food industry’s assertive effort to steer production towards more natural, less processed foods with fewer chemical agents and additives is no coincidence.

The development of production technologies and the growing awareness of consumers who are becoming more and more fastidious about the quality of ingredients has forced the Food and Beverage market to transform its communication processes and embrace a new kind of food marketing.

technical translationsThe new Food and Beverage narrative

Food storytelling has historically been based on the sensorial experience of the product, but nowadays is much more focused on its history and life cycle. Now, advertisements often take the viewer through the product’s entire time line, demonstrating the careful choosing of the flour, the ingredients, showcasing the lack of additives or fats, farming methods and culture. Current marketing is no longer advertising alone, but advertising and food education, advertising and sustainability. The focus has shifted from the basic celebration of taste and flavour towards the consumer’s well-being.

The linguistic registers in food communication

The notion of communication in the food sector is closely tied to a need to utilise linguistic formulas able to attract consumer attention, ensuring the use of correct information about the ingredients and the composition of the products with regards to additives and allergens.

The proliferation of food disorders and intolerances, such as coeliac disease and lactose intolerance, has led national and international health institutions to regulate product marketing methods. In Europe, food labelling is governed through European Regulation 1169/2011.

The provisions wich came into force require sanctions for violating the provisions of Regulation (EU) no. 1169/2011 establishing the obligation to indicate all allergens in order to safeguard the consumer. The normative provisions require sanctions for violating the provisions of Regulation (EU) no. 1169/2011 establishing the obligation to indicate all allergens in order to safeguard the consumer. They have become essential in order to protect the health of consumers and, at the same time, establish guidelines for the marketing of food products.

Translation agency services in food marketing

Professional translations for food industry

The food industry has a considerable impact on public health and, as we have seen, implies a need to use certain linguistic registers and communication rules. When a product is placed on different national markets, it is essential to use the right terminological glossaries to describe the ingredients, the allergens and all associated intolerances.

For this reason, companies in the food industry need professional translation agencies, like Intrawelt, which are able to navigate the linguistic and terminological variables that arise in the different target markets.

With support from terminology management technologies, we can build dedicated customised glossaries for each customer. In this way, the commercial communication of products is managed harmoniously in various target languages, avoiding terminological errors that could be harmful to the consumer’s health.

Reliance on specialised translation agencies is the best method to ensure that the product is compliant with international regulations on the use of the correct linguistic registers, while also maintaining a high quality standard of commercial communication effectiveness.

Continuing on the topic of commercial strategies, you can rely on a translation agency, such as Intrawelt, which has the advantage of being able to make use of the support offered in the localisation of food products. For example, in some cases, we have managed strategic consultation projects for choosing the name of products to be launched on different foreign markets. With the support of mother-tongue linguists, we are able to provide strategic information on the social and cultural dynamics that influence the purchasing choices of the target populations and therefore define the best linguistic and communications strategies for the choice of product names or the translation of recipes.

Intrawelt’s linguists, as well as being mother-tongue professionals selected in compliance with standard ISO 17100, are sector experts able to combine their linguistic skills with those of the relevant industry.

In the food and beverage sector, we manage translation projects that range from website localisation to translating product packaging, as well as sector-specific blog articles and technical translations of product labels. No matter what, our customers have the support of our specialised project managers, who are there to ensure a service that guarantees both efficiency and high quality, always within delivery deadlines.

Because the importance of food communication cannot be overstated, we invite you to contact us for a quote and further information about our professional translation processes.

What is Localisation? Conquer foreign markets with the right words

For a company intending to open its own line abroad, one of the simplest things to do is to develop a complete communications strategy for the destination country. From the creation of a website or e-commerce space to online and offline marketing activities. In fact, today, internationalising a business involves, first and foremost, brand exporting through differentiated strategic communications strategies.

Opening localised social channels in the destination country, advertising campaigns, web sites and e-commerce portals, press releases, public events. These are all important initiatives in communicating the values of your brand and building a relationship with the target market. Sharing your identity, the ability to communicate your values and convey emotion are key objectives in forging lasting connections with different national markets.

These goals can only be attained with the right messages using the right linguistic registers.

What is Localisation?

LocalizationLocalisation is the process of adapting the content from an existing communication channel to be published in an external market. If, for example, an Italian company wants to sell its products in Germany, it will need to create a website with content adapted in the local language, open social channels in German or regularly publish German language content for the German market. The same goes for advertising, public events and all online or offline marketing activities.

While the term may seem to refer to the translation of content from a source language to a target language, the truth is that localisation is more than that. In fact, translation and localisation are often thought of as synonyms. However, localisation is a much more complex process than simply translating a text. Localisation also involves the general adaptation of the text, which in some cases is is limited to converting currency, time, units of measure and data formats. But very often, it requires a deep understanding of the culture of the target audience.

How important is localisation for a company that wants to sell on the global market?

According to Internet World Stats, of the more than 4 billion daily internet users, only 25% speak English, and more than half of all Google searches are performed in a language other than English. When we look deeper into user behaviour, we discover that, in every aspect, language affiliation is essential to the value of the product sold.

According to a European Commission survey (click here to download), 90% of Europeans never search in a language other than their own. Additionally, 42% won’t buy a product if the description is not in their own language.

Common Sense Advisory found that, at the global level, 72% of customers are more likely to buy a product or service if the information is in their own language, while 56% say that finding brand information in their own language is even more important than price.

Localisation is serious business

Let’s start with an example which is both funny and tragic (for the company).
A few months ago, the global brand Coca Cola launched a new marketing campaign in New Zealand. Wanting to use the Māori language to create a trademark channel to attract users in the local language, the company posted a slogan at the top of all its beverage vending machines.

coca colaIn an attempt to combine Māori and English slang, the slogan was “KIA ORA, MATE!”. In the Māori language, kia ora is like saying “hello” in English, and everything is fine to that point. The problem was the choice to add “mate” (English slang for friend), in an attempt to create a friendly and colloquial connection with consumers. With this bit of communications artistry, the local meaning of “mate”, which is not quite the same as in English, clearly escaped them. Actually…

In Māori, mate means death. So, essentially, the greeting at the top of Coca Cola’s vending machines in New Zealand was, “Hello, Death!”

Why use a translation agency for localisation?

The example serves to clarify an important point. Using a language or register different from your own requires more than just the company’s marketing department. The use of a specific term or phrase, the meaning a word can have in one context versus another are issues that require a high level of professionalism to get right.

Localization services

Only professional linguists capable of adapting the source language not only to the vocabulary, but also to the culture, the usage and the customs of the target country can offer this type of professionalism.

Therefore, it is good policy to use a professional translation agency for all your localisation needs. Established and organised language service providers, like Intrawelt, who deal with localisation do not use general translators to provide this service.

Translation and localisation agencies hire professional linguists, specialised in marketing an communications, who know the language, usage and customs of the target market perfectly and who can even work from an SEO perspective. With highly specialised employees, translation agencies like Intrawelt are able to provide a true strategic consulting service for marketing and communications, even before translation. From choosing product names to which slogan to use, from linguistic formulations to typical local expressions, through to identifying content which would be awkward or even unsuitable in the

target country, professional, native speaker linguists are a valuable resource in the pursuit of your sales goals.

To receive further information about our localisation services, contact us for a quote.

European Commission

Sharing European health data: the pros and cons

A European electronic system for managing EU citizens’ health data: this is the initiative launched by the European Commission in the last few days. The recommendation of 6 February contains the guidelines for building a filing system which will allow EU citizens to travel within the European Union and have access to their health information, at any time, and from any facility.

Currently, European citizens’ access to electronic clinical documentation within the EU varies considerably from one EU member state to another. The exchange agreements are in fact limited to the preferences of individual Member States. For example, as of 21 January 2019 Finnish citizens are able to purchase medicines in Estonia with an electronic prescription and doctors in Luxembourg will soon be able to access the health profiles of Czech patients.

The European Commission’s aim is not only to extend the data access network to include all EU Member States, but also to determine the sort of health data that should be accessible.

CLINICAL RECORDS AND DIAGNOSES

The infographic published by the European Commission considers some of the concrete incentives for the integrated access to health data.

European health data

Imagine a French tourist who has been in an accident in a square in Berlin. Once he has made it to the hospital, the doctors will have direct access to his medical history, intolerance to certain anaesthetic medicines or allergies to medical materials. As such, medical professionals will have access to all the information necessary to safeguard the patient’s health.

The same can be said for the examination of laboratory analyses, hospital discharge letters and diagnostic imaging and reports.

In addition to Finland, Estonia, Luxembourg and the Czech Republic, by the end of 2021 a further 18 countries should start the process of sharing health profiles and electronic prescription services.

With the support of the Connecting Europe Facility (CEF) telecommunications programme, numerous Member States are already working on the digital e-health services infrastructure within the online healthcare network.

COMMUNICATION AND TRANSLATION OF HEALTH DATA

Conceived by the European Commission, this initiative could represent an important step forward for citizens in terms of health protection policies, despite the various complexities which are still under development. Considering the initiative from the point of view of translation agencies such as Intrawelt, a consolidated partner of the European Commission for translation projects, the main question concerns the management of health data in the various language combinations of the different countries involved.

Given that the medical records relate to citizens from all EU Member States, they will be written in the language of the country where the citizen underwent treatment or analysis. The challenge of aligning the reports, analyses and all medical documentation with the languages of all other EU countries will require an editing strategy that can guarantee fast and efficient translations in all the various language combinations. As translations which involve sensitive data for the health of citizens, medical and scientific translations require very high quality standards, as well as certified translators. These standards influence not only the service quality but also the procedures for safeguarding health data and information. We manage medical-scientific translation projects in compliance with the EU directives in EU Regulation no. 2016/679 (GDPR) on the processing of information and the safeguarding of infrastructures. We use software technologies to ensure encryption of data and the secure management and archiving of documentation.

ONE POSSIBLE SOLUTION

We have been collaborating with the European Commission for some time and we are certain that the best solutions will be identified in order to create a perfectly efficient and coordinated system. However, we’d like to use this article to offer one possible solution.

Using the various authoring tools available, texts of any nature (technical, scientific, financial, etc.) can be written in standardised form, working with a terminological memory which offers the writer the most effective term based on previous experiences with the editorial processes. Therefore a German doctor, for example, will be able to write a report following terminological suggestions that will make automatic translation of the text more effective when a French doctor accesses the report.

For more information on our content management and medical-scientific translation services, please contact us via the button below. In the meantime, we’ll follow the developments of the European initiative with interest.

Sworn translations and Certifications: New simplified procedures for Albania

The Italian embassy in Albania has issued a Press Release establishing the new procedures for Certifications and Apostilles for documents going between Italy and Albania. In fact, starting from the first of January 2019, the new rules for authenticating translations in Albania will apply. Following the communications for the Italian embassy in Tirana, with the new year, it will be possible to also use the Apostille form for sworn translations (as established in Article 1 of the Hague Convention of 5/10/1961, implemented between Italy and Albania starting from the 1 July 2011).

Therefore, it will not be necessary to request translation authentication from the consular authorities The original document, issued by the Albanian Authorities with an Apostille and accompanied by the translation, also with an Apostille, may be presented directly to the Italian authority in Italy. The same rules will apply in reverse for documents issued by Italian authorities and presented to Albanian authorities.

Now that Albania participates in the Hague Convention and with the implementation of the new simplified procedures, documents translated by a sworn translator going from Italy to Albania will only need to have an Apostille before being sent directly to the Albanian authorities and will not need to be examined by the Public Prosecutor’s office (as is necessary for countries not participating in the Hague Convention of 1961)

In this way, the original document issued by the Italian (or vice versa Albanian) authority bearing an Apostille may be presented directly to the Albanian authorities.

With our decade of experience in the field, we have opened an office dedicated to sworn translations near the Court of Fermo. In this way, we can carefully and precisely manage the thousands of requests we receive annually and which our sworn translators take care of.

For further information or to request a quote for a sworn translation, please contact us through the dedicated page on our website https://intrawelt.com.

fashion marketing

Fashion Marketing and social networks: the e-commerce of the future

In a fast-paced and unpredictable market like that of the fashion and luxury industry, brands are participating in a publicity competition of the highest level. The race to the top involves a battle with an end user who is extremely curious and attentive to details. According to studies on Instagram traffic, fashion lovers are extremely active on social networks: on average they are triple (3.63) the number of followers than those who are not interested in fashion, they follow around twice as many profiles (2.23), and they are 12 times more likely to comment. They also watch double the amount (2.35) of videos than the average user, and they also watch for longer.

Inbound marketing: the first step for efficient communication

Social Marketing Managers have very precise objectives: to create quality content via blogs and web platforms, plan email marketing campaigns aimed target audiences, maintain a quality brand image on social media, and last but not least, take advantage of e-commerce systems. Working in fashion marketing means knowing the fashion scenes and our daily lifestyles, dealing with continual evolution, an increasingly fervent globalisation, a hyper-interactive consumer and ruthless competition. Businesses in this industry need to know how to navigate the global market, offer a better quality product, equip themselves with competent and expert management, create a successful business identity, guarantee an efficient distribution network and aim to achieve an excellent level of customer satisfaction. In the fashion & luxury industry, outbound marketing tools have been locked in a box and forgotten about, and at the same time the developments in global commerce are bypassing the traditional inbound marketing tools. Pinterest Social Commerce

Social Commerce and Social Instant Commerce: the point of no return for fashion marketing

Social networks are now the most visited and influential places for discussion, and to represent a brand on social networks is a natural step to take, if anything the important thing is to understand how best to do it. Social commerce represents an anthropological evolution in the process of buying a product. It is a phenomenon that cannot be easily controlled since the strength of a brand is no longer solely linked to its communicative and strategic capabilities, but it is now influenced by user opinions on social media and e-commerce platforms. There are platforms dedicated to Social Commerce , for example MeToken, but in general all social networks have added a shopping function to their sites. In particular, Facebook, Instagram and Pinterest have added a “shop” for online shopping. For example click here to view Intrawelt’s Facebook Shop. For this social commerce process, brands need to be more concerned with keeping an eye on the market, listening to and reading product reviews, taking care of those that are, for all intents and purposes, the influential consumers. Therefore, for social marketing the consumer is the flesh and blood of a business’ communicative channel. It is a process that forces brands to present quality products with an ever-improving focus on the customer experience.   Version 3.0 of this process, in the fashion and luxury industry in particular, is the Social Instant Commerce where it is possible to purchase a product in real-time during special events. This purchase method is becoming more widespread among the fashion brands: during fashion shows and promotional events they promote the event on their social media channels, making the presented products available for purchase. For all intents and purposes we are talking about “just in time” shopping that lasts the duration of the event. In this way fans can purchase the clothes exclusively from the catwalk and wear them months before the official launch on the market.

The strategic role of global communication and translation

It is said that impeccable communication touches the heart (and stomach) of the consumer. A communication that touches the depths of the end user’s identity and that creates the necessary engagement to facilitate a bond based on trust and “love”. For this reason the choice to use only one language for communication could prove ineffective due to the variety of cultural and linguistic requirements of global markets. Trusting professional translation agencies allows for the provision of quality content, with a specialised knowledge of the most suitable linguistic registers and the dynamic cultures of the diverse local markets. At Intrawelt we work with a variety of clients from the fashion & luxury industry and we personally witness the benefits of localisation and translation of websites, e-commerce platforms or product launch campaigns. We specialise in the translation of product labels and descriptions, S/S and F/W collection catalogues, and we translate texts for websites and e-commerce areas as well as for press releases and marketing materials.   Considering the importance of image in the industry, we have DTP graphics experts who offer the highest quality graphic solutions along with a team of IT experts who manage CMS and e-commerce platforms. Fashion marketing is currently a laboratory experimenting with the boundaries that will soon involve the whole goods and services market. It is definitely a difficult challenge for the market players to face but at the same time it is momentous and therefore fascinating. Here at Intrawelt, we are ready for the challenge. Follow us on social media Facebook, LinkedIn, Twitter and Instagram to see our updates or contact us using the following form to request information about our services.

World Bank

WORLD BANK RANKING: TEN COUNTRIES TO DO BUSINESS WITH IN 2019

With 2019 fast approaching, the business community is looking to the future to find out what 2019 might bring.
The World Bank has published its 16th edition of the annual Doing Business Report, which presents a ranking of Countries based on their “ease of doing business”.

The numerous variables to be assessed when planning investments in foreign countries are of a legal, legislative, fiscal, economic and social nature. The World Bank’s annual report individually examines the parameters in order to identify the best national systems in which to invest in order to open new business channels and those which are therefore more interesting from a business perspective.

2019 is fast approaching and for companies and start-ups it’s time for financial statements and investment projects.

 

The criteria

Ease of Doing Business 2019 considers some of the legislative, administrative and economic variables which make various Countries more or less “hospitable” for future investments.

The assessment criteria used by the World Bank for the rankings are as follows:

Starting a business: the procedures, time, cost and minimum capital required to start a business. The general regulatory framework of the relevant country, combined with a range of economic results such as productivity, growth and employment.

Construction permits: this parameter evaluates the time it takes to obtain a construction permit and the quality and safety control measures of the building itself.

Electricity infrastructure: Procedures, time and costs involved in connecting to the electricity grid, as well as the reliability of the electricity supply and transparency of rates.

Registering property: set of required procedures for purchasing a property and for the transfer of a property from the seller to the buyer: this criteria measures the time and costs involved in completing each of these processes.

It is in this area that we are regularly selected by Italian and foreign companies for the translation, asseveration and certification of legal documents, contracts and permits relating to business management.

 

World Bank

Source: World Bank; Graphic elaboration: Intrawelt

Accessing finance: combination of procedures and legislation which facilitate or complicate the possibility of accessing finance for businesses.
Protecting minority investors: regulation of minority shareholders’ rights in Corporate Governance activities.
Taxes: payment terms and tax wedge to be maintained so the company is considered compliant with all fiscal regulations of the country.
Trading across borders: time and costs involved in exporting products abroad.

The commercial and financial documentation represent, as with legal documentation, an import resource for the regular start-up of a business. Therefore, translation projects for documentation in the destination countries’ languages are also handled by Intrawelt, using expert linguists from the commercial and financial sectors.

Enforcing contracts: The ability to enforce contracts and resolve disputes is crucial for markets to function effectively.
Resolving insolvency: efficiencies or shortcomings in the existing legislation on the subject and the main procedural and administrative restrictions in the insolvency process.
Labour Market Regulation: level of work flexibility, regulatory aspects on quality of work, protection and rigidity in regards dismissal.

 

The results

The data analyses provided by the report have examined two criteria in particular: the ranking on ease of starting a business and the general ranking of the top 10 countries for investment in 2019.

Ease of starting a business

The first ranking presented by the World Bank is surprising. First of all, none of the great global powers are ranked among the top 10. The best positioned European country is Georgia, which, in second place, precedes Canada and Singapore.

New Zealand however, is positioned at the top of the table with the highest score for ease of starting a new business (the first of the criteria described above).

The 10 best countries to do business with (Fig. 2)

Keeping in mind all of the criteria identified in creating the ranking, the final classification changes slightly. Among the top 10 countries to invest in for 2019 on a global scale, we find some of the great economic powers, albeit in lower positions.

The United States and the United Kingdom are in eighth and ninth place of the ranking, which is topped by New Zealand for the third year running. Followed by Singapore and Denmark.

World Bank Doing Business

Source: World Bank; Graphic elaboration: Intrawelt

 

Linguistic barriers

Investments in foreign countries do not only require economic and strategic efforts. During each phase of the process it is in fact imperative to know the language of the destination country and the technical vocabulary. Whether it is legal documentation, contracts, company or fiscal documents, it is important to adopt an impeccable communication register free from any translation errors which could compromise the entire business.

For precisely this reason, over the years we have had managed legal, financial and pharmaceutical translation projects in some of the target languages spoken in the countries included in the ranking. To name a few examples, we regularly manage legal and certified translations for Korea, Singapore and New Zealand. Our office in London makes us a strategic partner for incoming and outgoing investments, to and from the United Kingdom.

The work carried out annually by the World Bank represents a precious resource for companies that are committed to internationalisation, and this ranking can represent an important starting point when looking for new business channels. At the same time, the advice is to rely on qualified and certified translation agencies, capable of acting as a linguistic bridge and breaking down all communication barriers which may occur throughout the entire process.