Roberto Cavalli slashes 200 jobs worldwide

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Milan (Italy), Oct 12 (IANS/AKI) The Roberto Cavalli fashion house announced Wednesday it is cutting 200 out of 672 jobs globally, closing some stores and its Milan offices and relocating to a manufacturing district near Florence.

“The fashion industry is going through hard times due to a significant contraction of consumption in various key markets,” said chief executive Giacomo Ferraris, who was appointed last July.

“Only iconic brands with a coherent business model and efficient organisation can survive.”

The firm unveiled its plans after announcing creative director Peter Dundas was leaving after three seasons.

Norwegian-born Dundas faced a tough challenge: reviving a brand considered past its prime while preserving its iconic features after founder Roberto Cavalli sold a majority stake to private equity fund Clessidra in April last year.

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“The brand’s stylistic team will continue designing collections during this time of transition and transformation,” said Ferraris.

“We will name a new creative director in due time,” he added.

Cavalli, 75, still holds a 10 percent stake in the company and remains a consultant.

–IANS/AKI

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