Monday, 14 September 2009

Gianfranco Ferré Set For A Revamp – 14/9/09

Gianfranco Ferré, the Italian brand in bankruptcy administration, has surprised everyone by splashing cash around on a brand revamp.

We read in The New York Times that Gianfranco Ferré “has enough cash to stage fashion shows, introduce a shoe and handbag line and roll out a new logo.”

Ferré’s CEO, Michela Piva, claimed, “I think the luxury business has been through the worst. It has hit the bottom.” She also said, “The company was looking to infuse new life into the brand while retaining the heritage of its founding designer.”

Ferré’s administrators were granted a 30 million euro, or US $44 million, budget this year, part of which they decided to grant to the fashion house to fund the revival of the brand. The company benefited from Italy’s Marzano law, which enables administrators to let a company operate normally so that it can preserve its value for potential buyers. Read more about this in the MO Down for August 24: Italy Bails Out Its Debt-Ridden Luxury Brands.

No comments:

Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,