This study aims to explore the evolution of family business groups in Italy, one of the most prominent examples of family-owned enterprises in a developed economy. Family business groups in Italy play a crucial role in the national economy, with their influence spanning multiple industries and sectors. This project will investigate how these groups have evolved, focusing on key aspects such as their governance structures, diversification strategies, and intergenerational transitions. The study will provide exploratory evidence to understand how family business groups adapt to economic, social, and institutional changes in Italy, shedding light on the challenges they face and the strategies they adopt to maintain longevity. Given the exploratory nature of this study, a qualitative approach will be employed, focusing on a case studies analysis from Italian family business groups. The data will be collected and processed through document analysis and comparative case study analysis.