MILAN— Caruso is receiving an injection of funds from Fosun, its Chinese partner since 2013. At the same time, Umberto Angeloni, chairman and chief executive officer of the Italian men’s wear company Raffaele Caruso SpA, is leaving his role this month.He is succeeded by his eldest son Marco Angeloni, chief operating officer of the label, who joined the company in 2010. Marco Angeloni has an MBA from French business school Insead, and previously worked at Bain & Co.While financial details were not disclosed, sources say Fosun has increased its stake from 35 percent to the majority in Aplomb Srl, Umberto Angeloni’s and Ruggero Mangoni’s holding company. This will allow to further expand business globally. The two partners will continue to hold a minority share in Caruso.Angeloni, who spearheaded Brioni’s growth from 1990 until 2007 and turned it into a luxury lifestyle brand, bought the 35 percent stake in Caruso through Aplomb in 2008. Caruso at the time was a public company listed on the Milan Stock Exchange.Angeloni was also instrumental in building the label, setting in motion a retail plan that included the opening of important flagships in New York and Milan, and conceiving a communication and lifestyle message revolving around "The Good Italian" concept.Caruso was founded in 1958 in Soragna, outside the city of Parma, a one-hour drive from Milan. It produces men’s wear collections for leading fashion brands as well as its own Caruso and Uman brands, and counts 500 employees.The changes take place against a challenging backdrop for Italian men's wear companies. As reported, Canali is closing one of its factories and Boglioli is changing hands after presenting a plan for a voluntary arrangement with creditors. Private equity fund Wise SGR, which held a 98 percent stake in Boglioli, has accepted an offer made by international fund PHI Industrial Acquisitions to buy the clothing firm.
In honor the @CFDA’s announcement of @iamnaomicampbell receiving the Fashion Icon Award at the 2018 #CFDAAwards, which will take place on June 4, here’s a #tbt of the supermodel on @michaelkors’ runway in 1991. #wwdfashion #wwdarchive (📷: George Chinsee)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech during @sxsw for @createcultivate in partnership with @fossil. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.