fashionologie

fashionologie — Fri, 05 Jun 2009 14:30:12 PDT

>> 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]

After Much Turmoil with Donatella, Versace CEO to Resign Friday

fashionologie — Thu, 04 Jun 2009 15:30:22 PDT

>> 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. »

fashionologie — Wed, 28 Oct 2009 11:24:04 PDT

>> Versace Layoffs Coming to Help House Gain Back Profitability -Ever since former Versace CEO Giancarlo di Risio left the brand in June after clashing repeatedly with Donatella Versace, repositioning has been the order. Versace announced earlier this month that it would close all stores in Japan, and now comes news that the brand will cut 350 jobs worldwide by the middle of next year after forecasting a loss in 2009 and a flat 2010. The layoffs aim to help the house ensure profitability by 2011. [WWD]