MILAN — Walter and Giovanni Burani have been sentenced to six years in jail for fraudulent bankruptcy of the Mariella Burani Fashion Group and its parent company, Burani Designer Holding.
Prosecutor Luigi Orsi had requested nine years jail time for the founder and former chairman of the group, Walter, and his son Giovanni, former chief executive officer. Although the reasoning behind the court’s lighter sentence will not be known for three months, it is understood the behavior of the two men during the trial and the fact that they have paid back part of their debts were taken into account. The Buranis will end up paying around 13 million euros, or $17.8 million at current exchange.
Walter, husband of designer Mariella, and his son had expanded the firm into an apparel and accessories conglomerate in the early years of the Naughts, piling up a debt of more than $600 million and dabbling too freely and creatively with finance. Italy’s Ministry of Economic Development granted bankruptcy protection to MBFG in March 2010 and appointed three administrators to manage the group.
Giovanni Burani served a two-month prison sentence in summer 2010 while his father was under house arrest as part of a wider ongoing investigation into fraudulent bankruptcy. Orsi had also been investigating Burani Designer Holding, parent company of MBFG, for fraudulent bankruptcy.
MBFG, which was once listed on the Milan Stock Exchange, produced the Mariella Burani brand and collections for Ungaro and Matthew Williamson under licensing agreements.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast