After announcements were made earlier this spring that Versace's CEO in Milan, Giancarlo Di Risio, was leaving the luxury fashion house due a dispute with head designer Donatella Versace, things began to fall apart stateside for the label as well. Di Risio is expected to be succeeded by Gian Giacomo Ferraris — CEO of Jil Sander and a Gucci veteran who the label's reps think of as, "a smart guy and Versace represents a great opportunity for him," according to the New York Post.
Yet back in the U.S. a resolve has not come so quickly for the business that has now lost one of its top executives to another company, while another has found himself tangled in a sex scandal. President and chief operating officer of Versace's US retail chain Roberto Lorenzini, a former Fendi executive, left the couture house quietly several months ago and joined the smaller label Miss Sixty. No announcement was made on the mysterious circumstances of Lorenzini's abrupt departure. Meanwhile, Patrick Guadagno, who is president and chief operating officer of Versace's US wholesale business, has been accused of performing various forms of sexually illicit activity against former assistants and colleagues. Since the suit was filed in December, Guadagno, a former executive for Dolce & Gabbana, has been "missing in action" on the retail scene.
Hopefully Versace will be able to pull itself together professionally from this string of hardships and maintain it's reputation in the US, especially amidst these crucial times when the demand for luxury goods is at it's lowest. One insider claims the company's successful US reputation was based previously on it's executives that now they may be in trouble. On Guadagno, "(He) was a real can-do guy who worked closely with retail partners to
develop Versace's strategy in America. Now,
there's a real lack of communication" between Versace and its retail
clients that doesn't bode well for its business outlook."
Article Source: The New York Post
Photo Source: flickr
—Alia RajputSee the Top Ten Summer 2016 Trends for Women Over 40
Tags: Alia Rajput, business, company, Dolce & Gabbana, Donatella Versace, executive, Fendi, Gian Giacomo Ferraris, Giancarlo Di Risio, Gucci, Jil Sander, luxury goods, Milan, Miss Sixty, Patrick Guadagno, Roberto Lorenzini, The New York Post, troubles, Versace, Versace US Headquarters