MILAN — Yet another executive change is rocking Italy's giant Luxottica Group. At the end of trading Friday, the Italian eyewear company said chief executive officer for product and operations Massimo Vian was exiting, three months before his term expires.Executive responsibilities will be consolidated in the hands of executive chairman Leonardo Del Vecchio and deputy chairman Francesco Milleri, who will also take on the ceo role. Chief financial officer Stefano Grassi has been appointed to Luxottica’s board.Of Vian, who worked at Luxottica for 13 years, Del Vecchio said he "brought passion and energy to defining a modern and innovative operations organization. Also thanks to him today, Luxottica has a strong team of managers who share the same focus on quality and innovation. We wish him every success in his future professional endeavors."Del Vecchio said the group's reorganization and process of simplification, started more than three years ago, has been "almost completed."The founder of the company continued: "We have gone through a number of intermediate steps to give the organization the time to absorb and optimize the numerous business and production innovations. We are closing an extraordinary year, but my satisfaction is enhanced by the many positive signs experienced daily from our strategic initiatives: the new digital and e-commerce organization, advancements in technological innovation and processes, the opening of our central laboratories for the production of lenses and commercial policies that protect the value of our brands."Last year was one of record sales for Luxottica, which reported a 2.8 percent increase in revenues to 9.08 billion euros, boosted by gains in the retail channel and e-commerce."Today's decision aims at making Luxottica even faster and more proactive, with the group’s leadership focused on strategies and an articulated geographical organization that is closer to the needs of all our customers. We are preparing for major opportunities ahead and approaching with the best set-up a new chapter in our history with our French partners at Essilor," Del Vecchio concluded.Luxottica and French lensmaker Essilor are waiting for antitrust clearance on the proposed merger, revealed in January. The merger is expected to create an eyewear powerhouse, named EssilorLuxottica, with annual sales of 16 billion euros.Vian thanked Luxottica and Del Vecchio, saying that he left "close to the expiration of my term, aware of my contribution, and wish that the new chapter of the great history of Luxottica will continue to be rich and full of successes."Since the exit of longstanding ceo Andrea Guerra in September 2014, Del Vecchio has repeatedly shaken up the group's management structure. Following Guerra's departure, he established a co-ceo model, which puzzled analysts, and Del Vecchio returned to take on a more active role in the company. Enrico Cavatorta was promoted from his role of general manager and chief financial officer to ceo of corporate functions and interim ceo of markets. Cavatorta left after one month following disagreements on the governance structure.At the time, sources said Milleri, a longtime friend of the family, clashed with Cavatorta on a number of issues. He is currently Yoox Net-a-porter Group's chief financial and corporate officer. Del Vecchio took on the position of interim ceo until Adil Khan joined as ceo of markets in 2015, and Vian became co-ceo of operations and product. Khan left after only one year in January 2016 with Del Vecchio taking on executive responsibilities for that area until Vian became sole ceo.Vian will leave receiving 6.3 million euros and signing a 24-month non-compete.Luxottica produces under license for names including the Giorgio Armani Group, Bulgari, Burberry, Chanel, Coach, Prada and Versace and also has a number of proprietary brands such as Ray-Ban, Oakley and Persol.
“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)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews