Fashion residence Roberto Cavalli cuts 200 jobs globally; closes few stores, offices in Milan

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Milan (Italy): The Roberto Cavalli conform residence announced Wednesday it is slicing 200 out of 672 jobs globally, shutting some stores and a Milan offices and relocating to a production district nearby Florence.

“The conform attention is going by tough times due to a poignant contraction of expenditure in several pivotal markets,” pronounced arch executive Giacomo Ferraris, who was allocated final July.

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“Only iconic brands with a awake business indication and fit organization can survive.”

The organisation denounced a skeleton after announcing artistic executive Peter Dundas was withdrawal after 3 seasons.

Norwegian-born Dundas faced a tough challenge: reviving a code deliberate past a primary while preserving a iconic facilities after owner Roberto Cavalli sole a infancy interest to private equity account Clessidra in Apr final year.

“The brand’s stylistic group will continue conceptualizing collections during this time of transition and transformation,” pronounced Ferraris.

“We will name a new artistic executive in due time,” he added.

Cavalli, 75, still binds a 10 percent interest in a association and stays a consultant.