By 2003, the company found itself close to bankruptcy. Continual management changes and great sums spent on many different plans and products had saddled Piaggio with debt and left it vulnerable to competition from cheaper Asian rivals. Despite this, the brand was still well-known and products like the Vespa ET4 were gaining positive publicity. In October 2003 Roberto Colaninno made an initial investment of €100 million through his holding company Immsi S.p.A. in exchange for just under a third of Piaggio and the mandate to run it. Chief executive Rocco Sabelli redesigned the factory to Japanese principles so that every Piaggio scooter could be made on any assembly line.