The company will employ about 40 people there.
“As expected, the sales figures for the nine months reflect a volatile and uncertain economic and financial environment, ” said Chairman and CEO Diego Della Valle.
Diego Della Valle, the brand’s CEO, is seeking to help build up the Marche region in central Italy, which experienced a 6.2 quake in August.
In the six months ended June 30, the Italian luxury goods group saw its net profit drop 25.6 percent.
The Italian luxury company contributed 25 million euros to the project.
The Italian entrepreneur & the other shareholders in the Italian publishing group, reached an agreement on Monday.
Diego Della Valle said the third-quarter results were positive, especially in light of the “weakness of some important markets for luxury goods.”