Italian luxury suit maker Brioni reported a 3 percent drop in underlying profits in 2008 and appointed Andrea Perrone sole chief executive officer.
For the year ended Dec. 31, earnings before interest, taxes depreciation and amortization fell to 32 million euros, or $47.1 million, a company spokeswoman said. She added sales were “in line with last year” — around 206.5 million euros, or $303.8 million. Full results are slated for release today.
Dollar figures were converted at average exchange rates for the periods to which they refer.
Perrone, the grandson of co-founder Gaetano Savini, formerly shared the role of ceo with Antonella De Simone, who is the granddaughter of co-founder Nazareno Fonticoli, and Antonio Bianchini. The spokeswoman was unable to clarify the new roles of De Simone and Bianchini.
Brioni tapped BNP Paribas in November to help sell 20 to 25 percent of the company and is believed to have attracted wide interest from cash-rich operators because of its strong brand and profitable business.
The spokeswoman said Tuesday the company had been contacted by “private equity and industry,” but declined to give details. According to market speculation, these may include Mediobanca, PPR and LVMH Moët Hennessy Louis Vuitton.
Sources said Brioni’s controlling shareholders, who are descendants of the company’s founders, are seeking a 100 million euro, or $140 million at current exchange, investment to ease debts and develop the business — including buying an accessories plant — with an aim of listing on the Bourse in four or five years. Brioni bought out former ceo Umberto Angeloni for an estimated 80 million euros in 2006.
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)
@badgalriri’s @fentybeauty launch in September was a massive success on social media, powering $72.9 million of earned media value, according to Tribe Dynamics. The brand’s foundation offering sparked conversations about diversity in beauty, launching the growth of emerging influencers and propelling the brand’s support on social media. Today, #fentybeauty won Launch of the Year at the WWD #BeautyIncAwards. (📷: Chema Moya/EPE-EFE)
@marianna_hewitt has become one of the most influential content creators in the beauty space, with almost 800,000 Instagram followers and a newly launched skin care line called @SummerFridays. Today, she was awarded Influencer of the Year at the WWD #BeautyIncAwards. (📸: @sophiachabbott )
As shopping behaviors evolve, the retail experience must follow. Head over to retail experts @colliersinternational’s Knowledge Leader series to read more about the shift in our shopping era. #colliersretail #lovecolliers
@prada opened a pop-up club, called Prada Double Club, in collaboration with German artist Cartsen Höller at @artbasel Miami. Last night, guests – including @youngparis, @ritaora and even Miuccia Prada herself – gathered in a former ice factory where the pop-up is housed for a performance from @wyclefjean. Go to WWD.com for full coverage on all the exhibits, parties and more at #ArtBaselMiami. #wwdeye (📷: @lexieblacklock)
@louboutinworld and @disney are making magic once again, creating a set of shoe designs for the release of “Star Wars: The Last Jedi.” Louboutin designed a pair of shoes for each of the film’s four female leads: Rey (@daisyridrey), Vice Admiral Amilyn Holdo (@lauradern), Captain Phasma (Gwendoline Christie) and Rose Tico (@kellymarietran). The shoes will debut on Saturday at the L.A. premiere of the latest episode. #wwdfashion
Today at the #BeautyIncAwards 2017, WWD will be joined by beauty leaders from around the world as we honor this year's most innovative people, products, brands and places. Follow along here and on Twitter for live coverage from the exclusive event. #wwdsummits (📷: @elizaflorendo)
Exclusive: Beauty superinfluencer @marianna_hewitt is launching her first-ever skin care brand with her business partner @laurengores. Their new line Summer Fridays, which will be sold exclusively at summerfridays.com starting in January, is launching with just one product – a hydrating cream Jet Lag Mask. “We wanted to focus on one product that was amazing,” said Hewitt. Read the full interview on WWD.com. Link in bio. #wwdbeauty #wwdnews
Michelin star-rated chef PJ Calapa marks his first solo endeavor with today’s opening of @scampinyc –– the new Southern Italian restaurant located in Manhattans’ Flatiron District. The upscale yet welcoming environment matches the menu, which includes two types of scampi: traditional Italian langoustines in butter and the Americanized version with shrimp over pasta 🍤 - pictured here. #wwdeye (📷: George Chinsee)