MILAN — Missoni’s restructuring has claimed another position: general manager Massimo Gasparini left the company last week and his position will not be filled.
This story first appeared in the November 3, 2009 issue of WWD. Subscribe Today.
“This is the final step and it was inevitable,” said Vittorio Missoni, who will retain his position as chief executive officer along with his siblings Angela, who is also creative director of the brand, and Luca, who is in charge of the newly founded Ottavio and Rosita Missoni Foundation, which aims to promote and preserve the history of the brand.
Luca Missoni is now also responsible for production and industrial decisions and Angela Missoni also oversees marketing and communications with staff.
“We must be quick and elastic to react to today’s changes and challenges,” said Vittorio Missoni.
Gasparini joined Missoni in January 2007, set up a new organizational structure and streamlined its product offer, shuttering the Missoni Sport collection, for example. Prior to joining the company, Gasparini worked at Gucci Group’s watch and jewelry division and held various positions at American Express. The Missoni family said at the time it had decided to step back and delegate the management of the firm to a professional management team.
In a bid to centralize its operations and contain costs while keeping all of the 250 employees at the Sumirago manufacturing plant, the company last month let go of four managers, including its director of licenses, a position created by Gasparini.
In 2008, the company reported sales of 81 million euros, or $119 million at average exchange rates. For 2009, Missoni estimates a 10 percent drop in revenues.