10 hours ago | By Carlene Thomas Bailey
Jul 28, 2016
By WGSN Insider
Roberto Cavalli has named deposed Versace head Gian Giacomo Ferraris its new chief executive as the Italian fashion house seeks to relaunch under a new owner.
Ferraris, who has also worked for Gucci and Prada, radically turned around Versace in his seven years at the company, increasing revenue and cutting debt and bringing it back to profit only two years after being appointed.
“The profound knowledge of the sector and the important professional experiences of Gian Giacomo Ferraris will allow Roberto Cavalli to consolidate the path of relaunch that is at the base of the company’s development plans,” Cavalli said in a statement.
Italian private equity Clessidra took over Cavalli in April last year and is seeking to revamp the Florentine label.
“In a summer that has seemed to be rife with senior changes in the luxury industry, Semerari’s departure is yet another sign of how many of the businesses in this space are trying to revitalise their companies ahead of the September catwalk season”, says Petah Marian, WGSN Senior Editor of Retail Intelligence.
Robert Cavalli also said chairman Francesco Trapani would leave the company in the second half of August, following his departure from Clessidra.
Versace had replaced Ferraris with Alexander McQueen’s Jonathan Akeroyd in May, without giving a reason.
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