JOB DONE: Following a report in WWD Friday that Joel Horowitz had exited Diane von Furstenberg as cochairman, von Furstenberg and Horowitz said in a joint statement that, “We joined forces in 2012 to strengthen the DVF infrastructure and find the perfect ceo. In April, we accomplished that by bringing Paolo Riva on board. We are proud of the strides we have made and look forward to seeing the company continue to thrive upon the foundation we have built.”
It was unclear when Horowitz exited DVF, although sources said it was May or June. At the time he joined the company, he said he was looking forward to “working with the management team to further grow the business.” Given his experience taking Tommy Hilfiger Inc. public, and proven ability to lead a public firm, there has been much speculation that the ultimate prize for DVF was an initial public offering.
While Horowitz’s departure doesn’t rule out that possibility, it does presume that an IPO isn’t in the immediate future for DVF. Riva has said his priority for the company is to “start to build a strategy for the brand and what it will look like in years to come.” Under Horowitz’s tenure, DVF had been focused on strengthening its retail, wholesale and licensing operations.