MILAN — Umberto Angeloni’s relationship with Brioni has come to an official end.
In a DNR exclusive, the Rome-based company said former CEO and his wife Gabriella De Simone, granddaughter of Brioni cofounder Nazareno Fonticoli, sold their shares to Brioni’s other shareholders, which comprises three families.
The couple’s collective holdings totaled 17 percent of Brioni Roman Style SpA. A Brioni spokesman said the company’s majority shareholders had absorbed the 17 percent quota.
The company said in a statement that Italy-based bank, Interbanca SpA, financed a loan for the transaction. Financial terms of the deal; however, were not disclosed nor was the new shareholding structure.
“The share purchase is in line with our growth strategy as an independent luxury brand,” said Andrea Perrone, who as one of Brioni’s three administrative executives spearheads Brioni’s business and global strategy.
“We are confident in our future,” added Antonella De Simone, Gabriella’s sister and head of marketing and communication at the Abruzzo-based company. “We are betting on our ability to continue growing the luxury brand.”
The share purchase marks the end of a yearlong saga that started last June when Angeloni quietly walked away from Brioni amid internal familial conflicts.
DNR broke the news of his departure in September and since then both sides have remained tight-lipped on exactly what transpired.
“My wife and I are very happy and very relieved. [The sale of our shares] ends a period of stress and conflict,” Angeloni told DNR in a phone interview Tuesday. “From a purely economic point of view we find the deal very convenient and I am confident in investing our wealth in other projects than staying a shareholder in Brioni.”
Although Angeloni is now out, his sophisticated vision was instrumental in Brioni’s transformation from a high-end suit maker into a luxury lifestyle brand and $170 million euro business.
Under the new management team, Perrone, grandson of Brioni cofounder Gaetano Savini, has emerged as the defacto figurehead.
So far in his early tenure, Perrone has steered focus back to product and in reinforcing relationships with key retail partners.
A sportswear push is underway as is a more articulated presence with key wholesale accounts, including Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman in the U.S.
On the retail front, Perrone and his team have inaugurated new boutiques in Russia, Dubai, India and Azerbaijan. Brioni is set to opening new units in Malaysia, Kazakhstan and Hong Kong over the coming months.
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews
“Stranger Things” is getting a new cast member for season 2. Meet @sadiesink_, the 15-year-old who will be joining the Netflix series for its new season. You may recognize her from “The Glass Castle” with Brie Larson and Woody Harrelson, but the Texas native’s next role goes in an entirely different direction. She describes her character, Max, as “a rough and tumble skater girl [who] becomes friends with the boys at school.” The second season debuts on October 27. (📷: @jgreenery) #wwdeye
Amid the Harvey Weinstein controversy, there’s another sector that’s being put under the spotlight for sexual abuse: the modeling industry. While rumors about abuse and sexual harassment of female and male models — and the photographers, agents and others who perpetrated it — have circulated within the fashion world for years, model @cameronrussell started posting stories from models on Instagram last week about abusive situations they’ve encountered — from sexual harassment and molestation to attempted rape. Over 75 have weighed in so far. Read more on WWD.com. Link in bio. #wwdnews
To celebrate its 16th anniversary, @dylanscandybar tapped designers and celebrities to create mosaics out of candy. The mosaics will be auctioned off to support the philanthropic cause of each participant’s choice. Pictured here is the mural created by @aliceandolivia's Stacey Bendet. For a first look at some of the other artwork being unveiled tonight, go to WWD.com. #wwdeye
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye