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Brioni Changes, So Does Italy’s Men’s Wear Industry

MILAN — “Brioni is a work in progress, I underline the word progress,” said Jean-François Palus, Kering Group’s managing director, during a call with analysts on Thursday, to discuss first-half results of the Italian men’s wear brand’s parent company. And on Friday, the company revealed it was once again parting ways with its creative director — this time Nina-Maria Nitsche — after only one year. Brioni chief executive officer Fabrizio Malverdi was not available for comment.
What happened with Nitsche is open to interpretation. Kering does not break out sales for its smaller brands, but it was reported that the “other luxury houses” division posted a 34.7 percent increase in sales to 534 million euros in the second quarter, despite continued losses at Brioni. But Jean-Marc Duplaix, Kering’s chief financial officer, said during the call that “Brioni’s top line is on track to gradually better absorb its fixed costs.”
Analysts are skeptical Kering would be looking to sell Brioni now, a suggestion confirmed by Palus, who said the group does “not intend to dispose of any other brands of our current portfolio.” Kering, then called PPR, acquired Brioni in 2011 from the descendants of the company’s founders, Nazareno Fonticoli and Gaetano Savini.
A successor

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Via:: https://wwd.com/menswear-news/mens-designer-luxury/brioni-changes-so-does-italy-mens-wear-industry-kering-group-millennial-retail-1202766427/