>> After weeks of speculation, Versace CEO Giancarlo Di Risio, who has been with the company since 2004, is expected to hand in his resignation at a board meeting on Friday. Despite the fact that Di Risio worked closely with Donatella Versace to make her collections less flashy and returned the house to profit, the company has been under strain from declining sales, and its board recently approved a restructuring plan which effectively sidelines the chief executive.Di Risio is said to have clashed with Donatella on a number of levels — he disagreed with her lavish lifestyle, according to recent articles in the Italian media, and pushed her to simplify her designs so that the house could introduce accessories and clothes with lower prices.
by POPSUGAR Fashion News
>> After weeks of speculation, Versace CEO Giancarlo Di Risio, who has been with the company since 2004, is expected to hand in his resignation at a board meeting on Friday. Despite the fact that Di Risio worked closely with Donatella Versace to make her collections less flashy and returned the house to profit, the company has been under strain from declining sales, and its board recently approved a restructuring plan which effectively sidelines the chief executive.
Di Risio is said to have clashed with Donatella on a number of levels — he disagreed with her lavish lifestyle, according to recent articles in the Italian media, and pushed her to simplify her designs so that the house could introduce accessories and clothes with lower prices.
Donatella wanted to spend $140K a day on Mario Testino, Di Risio didn't. »
>> INSIDER WIRE —Two houses are experiencing tumultuous times: As expected, Versace CEO Giancarlo Di Risio stepped down today and will stay on temporarily as the company transitions; no successor has been named. And Aquascutum geared up for layoffs yesterday in the aftermath of former CEO Kim Winser's unexpected resignation. [WWD, Times UK]
