Italian fashion brand Roberto Cavalli hoping Ferraris can bring to them the success he did to Versace
ROBERTO CAVALLI has confirmed that it has appointed former Versace chief executive officer Gian Giacomo Ferraris as its new CEO. The Italian fashion house seeks to relaunch under a new owner. Ferraris replaces Renato Semerari who had reportedly stepped down due to disagreements over the development strategy of the company.
Ferraris, an engineer who also worked for Italian luxury groups 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. It is likely that Roberto Cavalli is turning to Mr. Ferraris with the same hopes.
“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.
Of his new position, Mr. Ferraris said in a statement, “I am happy to join Roberto Cavalli, an iconic fashion brand that I know well and appreciate, loved by celebrities and trendsetters worldwide.
“In line with the shareholders’ mandate, I am committed to defining and developing new initiatives for the growth of the maison already in the short-term,” he said.
Italian private equity Clessidra took over Cavalli in April last year and is seeking to revamp the Florentine label famous for its animal prints.
Cavalli said that Chairman Francesco Trapani would leave the company in the second half of August, following his departure from Clessidra.