MILAN – Fashion Box Group SpA, the company behind the Replay, Replay & Sons and We Are Replay brands, said it is implementing “an important strategic reorganization” which will see Fashion Toys, a separate holding that produces the Replay & Sons collections, integrated into Fashion Box.
The move, which may include the closure of the Fashion Toys site in Treviso, will result in greater production and logistic efficiencies, cost containment, and a better expression of the business, Fashion Box chief executive officer Gaetano Sallorenzo stated.
The denim and sportswear group did not say how many employees would lose their jobs. Fashion Box employs more than 500 people, 420 of whom work at its main site in Asolo, near Treviso.
“After a 2008 of transition, our objective is to kickstart growth again with the rhythms to which we are accustomed – compatible with the general market conditions,” said Sallorenzo, who replaced Marco Bortoletti as boss in May.
In 2007, revenues at Fashion Box fell 3.4 percent to 341 million euros, or $467.4 million at average exchange, following upper single digit gains a year earlier.