MILAN -- A few weeks after taking control of Fendi, LVMH Moet Hennessy Louis Vuitton has tapped the Italian manager Giancarlo Di Risio as the brand's new chief executive.
He starts his new job next month.
The post was formerly held by Patrizio Bertelli, head of Prada Group, who sold his 25.5 percent stake in the Roman fashion company to LVMH at the end of November and walked away with about $260 million.
"We are very happy about the arrival of our new chief executive," said Carla Fendi, president of Fendi, in a statement Tuesday.
In a phone interview with WWD, Di Risio added: "The label has a lot of potential and is well positioned on three continents -- Europe, the U.S. and Asia -- but we are still evaluating development possibilities."
While the Fendi sisters still hold 49 percent of the company, Di Risio was unfazed about possible family clashes, which have in the past created some management problems.
"This is a new era, with LVMH controlling the company, and my joining Fendi should be seen in this light," said Di Risio, who will work from the Rome headquarters. "I will be working with a group that is a leader in luxury goods. This is a great challenge for me."
Industry observers noted that Di Risio's qualifications are well suited for the time when Fendi will be consolidated and listed on the stock exchange as part of LVMH.
"Apart from Di Risio, there are not many managers in the fashion industry capable of taking a company public," said Carlo Pambianco, owner of a luxury goods consulting firm here.
As reported, in August Di Risio left his post as chief executive of IT Holding, which over 15 years he helped develop into a $430 million conglomerate and build a strong, well-organized management team, observers said. He orchestrated IT's listing on the Milan bourse in 1997.
Di Risio was a pioneer in launching designer jeans and young lines, signing licensing agreements with Versace and Dolce & Gabbana and later building a stable of luxury labels through an aggressive acquisition campaign. IT Holding today controls the clothing manufacturer Ittierre, Romeo Gigli, Gianfranco Ferre, Malo, Exte, Gentry Portofino and Husky."Di Risio is one of the best managers in the fashion industry," said Armando Branchini, vice president of InterCorporate, a luxury goods analyst. "He will bring a professional and very energetic contribution to Fendi." Branchini said that Fendi has recently gone through two phases: product development, with the international success of the baguette bag, followed by direct control of distribution and buy-back of licenses under the Bertelli management.
"Now, Fendi needs a manager who will deal will all business areas and who will work on every level, ranging from industrial production to distribution, from toning strategies to financing," said Branchini. "Di Risio will be able to draw from his experience at IT Holding to tackle these tasks."
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)