KRIZIA TALKS: Rumors about the future of Krizia have been circulating in Milan for some time now, in light of the generational shift looming ahead in the future of the Italian brand. Well-placed sources say Krizia is in advanced negotiations with an investor from Saudi Arabia interested in taking control of the storied company. Reached on Wednesday, a Krizia spokesman declined to comment. Krizia is owned by founder and designer Mariuccia Mandelli and her husband Aldo Pinto, whom she married in 1968. Krizia’s first official collection was unveiled at Palazzo Pitti in Florence in 1964. The designer still oversees the collection and appeared on the runway at the end of the brand’s fall show in Milan last month.
Separately, Ports Design Ltd., the Chinese holding that controls the Ports 1961 brand, has denied it is in talks with Krizia, following a report in one Italian daily. “Ports is definitely not interested in acquiring Krizia,” said the brand’s commercial director, Gabriele Losapio.
This story first appeared in the March 7, 2013 issue of WWD. Subscribe Today.