LIFE> Fashion
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LIFE> Fashion
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Gianfranco Ferre defies crisis with major revamp
(Agencies)
Updated: 2009-09-11 10:10
As of August 15, it had sold 58 percent of its 2009 winter/fall pre-collection at full price in the United States. Previously, she said Ferre sold 55 percent of its 2009 spring/summer collection at full price, which she described as a good result. However, in good times, designers usually sell up to 75 percent of their collection at full price. Piva declined to give the sales growth target for the years to come, but said they had reached about 130 million euros ($188.5 million) on a pro forma basis in 2008. In 2000, Gianfranco Ferre sold 90 percent of his company to Gruppo Tonino Perna, the parent company of the Italian fashion group IT Holding, for a sum estimated by analysts to be between $150 million and $175 million. SURVIVING THE FOUNDER Piva said Ferre's troubles began when its founder died, and the company was a good example of how hard it was for a fashion house to survive the passing of its designer. Several brands have succeeded, such as Yves Saint Laurent and Dior, but others, such as Valentino, have struggled. Alessandra Facchinetti, who succeeded Valentino Garavani at Valentino on his retirement in January 2008, lasted less than a year before leaving, "embittered". Lars Nilsson, who came in after Ferre's death, lasted only five months. He was replaced in April 2008 by designers Tommaso Aquilano and Roberto Rimondi. "The difficulties of our brand started two years ago when Mr Ferre died," Piva said. Piva said the company was looking to infuse new life into the brand while retaining Ferre's heritage. "At this point, we are looking at a woman who still wants structure but also who wants to be feminine, elegant and less flashy," she said. Ferre, which designed the official off-field uniform for Rome-based soccer club SS Lazio for the upcoming 2009-2010 soccer season, said it was in talks about another sponsorship deal, possibly in another sport. |
