MILAN — Gianfranco Ferré SpA has a new ceo, Mohamad Iyad Jalab, who succeeds Ahmed Sankari. According to a statement issued on Tuesday, the executive is a veteran of the Dubai-based Paris Group, which is owned by Abdulkader Sankari and his son Ahmed and which controls the storied Italian label.
The statement said Sankari left his role in April to focus on Paris Group’s “acquisition of new fashion brands” and “the international opening of new Ferré stores.” A new Milan boutique will open by the end of the year, replacing the brand’s venue on Via Sant’Andrea, whose lease was not renewed by the building’s owners, according to the company. RELATED STORY: Gianfranco Ferré Legal Battle Rages On >>
A legal battle is taking place over the Ferré brand, as the state-appointed commissioners, who oversaw the company’s sale in February 2011 after two years of state-controlled bankruptcy protection, have turned to a Milan court. They are seeking to confiscate the brand to avoid further deterioration of its assets as they believe the label has not been developed by its new owners.
According to sources here, the administrators deem Paris Group may finally reduce the brand to a licensed operation in the Middle East. In May, a court in Isernia, Italy, rejected a request to sequester the brand put forward by the label’s administrators in October, saying it did not have jurisdiction to make a decision in the case. However, a legal source explained that the judge merely deemed Isernia was not the appropriate court to decide on the issue.
According to Ferré’s lawyer, Giuseppe Strano of Milan-based legal studio DCS & Partner, and contrary to media reports, the brand’s owners have invested more than 30 million euros, or $36.8 million at current exchange, in a year, and paid off 97 percent of its debt, as certified by Deloitte & Touche Paris. The debt amounted to 11.6 million euros, or $14.2 million.
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews