VERSACE GETS VERTICAL: Versace is getting an early start on spring cleaning. The company is planning to split its operations and assets into two distinct subsidiaries controlled by a holding company as part of ongoing restructuring efforts, a spokesman confirmed. But he declined to comment on a press report in weekly magazine Il Mondo that Donatella Versace and Santo Versace have agreed to stay off both subsidiaries’ boards, thus granting more independence to chief executive officer Giancarlo Di Risio’s management team. Both Donatella and Santo would retain their boardroom seats at the main shareholding company. Il Mondo said that one of the new companies will control the brands, licenses, production assets and about 20 stores, while the other subsidiary will manage real estate like the palazzo in Milan’s Via Gesú worth 40.6 million euros, or $53.5 million. The magazine said the house on Lake Como will stay a part of the umbrella company, Givi Holding, through which Allegra Beck and Santo and Donatella Versace hold their stakes in the fashion house.

CHANGES AFOOT: Foot Locker Inc. on Monday promoted Nick Grayston to president and chief executive officer of its U.S. Foot Locker division, and named Keith Daly president and ceo of Lady Foot Locker, replacing Grayston. Both men will report to Rick Mina, president and ceo of Foot Locker Inc. U.S.A., effective Feb. 1. Grayston is replacing Tom Finn, who is retiring from the company after 35 years of service. Grayston has been with Foot Locker since 1998, and in that time, has held executive posts at Foot Locker Europe, Champs Sports, Foot Locker Canada and Lady Foot Locker. Daly was most recently executive vice president of sales at And 1, an athletic and apparel manufacturer. Prior to that, he held executive posts at Footaction and Kinney Shoe Corp.

ZOOM ON ZEGNA: Ermenegildo Zegna can soon boast from shades to suits. The Italian men’s wear giant has signed its first eyewear license with De Rigo. The deal calls for the development, production and worldwide distribution of Zegna-branded frames and sunglasses. The first collection bows for fall 2005. Although a sales forecast was not given, the Zegna deal helps fill a void at the Italian eyewear manufacturer, which lost its historic licensee Prada in 2003. Both Zegna and De Rigo declined to specify the length of the license, saying only it’s a long-term agreement.MAKUEN TO EDDIE BAUER: David Makuen, 37, has been named vice president of marketing at Eddie Bauer, effective Jan. 18. He reports to Fabian Mansson, president and chief executive officer, and will oversee the company’s brand communications, retail creative design, marketing programs for apparel, home and outlet, copywriting and credit and loyalty programs. Most recently, Makuen was vice president of marketing of the direct division of Ann Taylor and Loft brands, where he oversaw multichannel marketing.

To access this article, click here to subscribe or to log in.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus