MILAN--Marzotto SpA reported Monday that consolidated net profit rose to $128 million (20.4 billion lire) in the first half, up from 9.8 billion lire in the first half of 1994. The rise in profits came on a sales increase of 17 percent to $725 million (1.16 trillion lire) from 985.9 billion lire. The textile and apparel manufacturer said that in the first half, all sectors of its operations performed well with the exception of the linen division, which is suffering a sector-wide slump due to oversupply. Marzotto also reported that as of January 1, Jean de Jaegher, currently president of Marzotto's Hugo Boss USA division, will replace Ernesto Fugazzola as managing director of Marzotto. Fugazzola said in a statement that he is resigning for family reasons that involve moving away from Marzotto's headquarters in Valdagno and taking another job. Marzotto said it had not named a replacement for de Jaegher at Hugo Boss USA.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)