MILAN — Sixty SpA is redefining its structure and management to breathe new life into the company, which has been hurt by the global economic downturn.
The Italian apparel manufacturer, which produces the Miss Sixty line, among others, has appointed Pietro Bongiovanni as chief executive officer.
“The world has changed, and companies need to be quickly changed to adjust,” said Bongiovanni, a member of the group’s board for 16 years. That said, he will continue to focus “on the historically successful elements of the company, such as innovation, quality and service.”
He succeeds Renato Rossi, who founded the company with creative director Wicky Hassan in 1989. Rossi holds a 33 percent stake in Sixty and will continue to be actively involved in management and operations, but will concentrate on product development.
Guido Pullini and Marco Bortoletti have also joined the company. Pullini, who hails from footwear brand Geox, takes on the role of sales and marketing director of brands Miss Sixty, Killah, Energie, Refrigiwear and Murphy & Nye, and will coordinate foreign branches and retail. Bortoletti, a former Replay ceo, will help strengthen the group’s retail performance, coordinating creativity and research and development of the group’s fashion division, which includes the Miss Sixty, Energie and Killah brands.
Sixty had sales in 2009 of 470 million euros, or $653.3 million, and Bongiovanni said he expects revenues in 2010 to be “in line” with the previous year. Likewise, he forecasts earnings before interest, taxes, depreciation and amortization this year to be in line with 2009, when they totaled 43.9 million euros, or $61 million. At the end of 2009, net debt stood at 231.3 million euros, or $321.5 million, reduced from 404.5 million euros, or $594.6 million, a year earlier. Currency figures have been converted from the average exchange rates for the periods to which they refer.
However, Bongiovanni is looking to grow the company. He is eyeing markets such as China, where the company already counts 77 stores. Ten store openings are expected in “the most profitable” regions next year, he said.
In September 2009, Sixty said it was outsourcing management of Miss Sixty and Energie stores in the U.S. to Canadian retailer Aldo Group.
Last year, Hassan had to forgo Miss Sixty’s runway show during New York Fashion Week in September to help cut costs. In 2009, the company restructured its wholesale and retail operations, inked new licensing agreements and retail partnerships and implemented tighter cost controls.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty