John, Gipiemme was a second tier Italian component company. Some of the components are pretty nice, others look like second tier. Simplex made derailleurs for them explaining why the derailleur reads "made in France." The other components in the set may have been made in Italy, maybe even by Gipiemme, all boxed in Italy. That and a loose interpretation explaining the boxes claim of made in Italy. The rubber parts of the brakeset should say Modolo, explaining where they came from. If you have Gipiemme pedals, they are evil and should be sent to me immediately!
Pete Geurds
Douglassville, Pa