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.
@beyonce chose a custom gown by @falgunishanepeacockindia for mother @mstinalawson 's second annual Wearable Art Gala last night. The gown, which took 10 days to make, was inspired by Nubian warrior queen Amanishakheto. Reporting by @hernameislex . #wwdeye 👑 🐝#beyonce
After dressing @justintimberlake for his Super Bowl halftime performance last month, @stellamccartney has designed the star’s "Man of the Woods" tour wardrobe. Timberlake will be wearing a mix of pieces from McCartney’s fall men's collection as well as custom designs and items from his own closet. #wwdfashion
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“I am of tradition, but that doesn’t mean I have an old outlook on life,” Hubert de Givenchy told WWD in an interview in 1978. The legendary designer, who died last week at the age of 91, achieved wide success soon after launching his own couture boutique in the early ’50s, but he refused to pine for that time. For the first time since its original publication, read our interview with Givenchy on his awe for Audrey Hepburn and looking forward. Link in bio. #wwdarchives #fbf (📷: Pierre Schermann)
About last night: @alexachung and @supergausa toasted the launch of their capsule collection. “It’s the shape that I love, so rather than amend the last and make the sole crazy or do anything wild, we just did really subtle additions that I think make it look really luxe-y,” said Chung. #wwdfashion (📷: Marc Patrick)
Exclusive: @off____white’s @virgilabloh is launching an exclusive eyewear capsule collection @sunglasshut. The unisex collection, which is made up of three styles, first made its debut on the brand’s fall runway show in Paris. Get all the details on WWD.com – link in bio. #wwdnews #wwdfashion