By  on June 15, 2010

MILAN — Ballantyne is reshaping its future under a new chairman and creative director. Moving away from a classic look, the cashmere brand is aiming for a younger, more fashionable customer. In order to achieve the goal, Ballantyne has set up a production company in Italy’s Perugia, in the country’s central Umbria region, which is a pivotal cashmere-manufacturing hub. The firm has also slashed its price range by 20 percent.

“We’ve cut the industrial cost of our product with our new manufacturing structure to offer a more interesting price, but the quality remains top level,” said Giacomo Canessa, Ballantyne’s new chairman and brother of the late Alfredo Canessa, who died in March 2009. The Canessas founded Malo in 1972 and Giacomo Canessa was previously a Ballantyne consultant.

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