Ceasing operations of its manufacturing plant in Italy may impact a total of 400 workers.
The fund, with an expected duration of six years, aims to accrue a capital of 300 million euros and its team includes former Pal Zileri ceo Giovanni Mannucci and former Calvin Klein and Ralph Lauren executive Gaetano Sallorenzo.
Iannone will design apparel and accessories collections for a new luxury lifestyle project.
The designer had joined the Italian men’s wear brand, controlled by Qatar-based Mayhoola, in the summer of 2017.
There is speculation that Mayhoola for Investments wants to retreat from the luxury fray.
At the storied Corneliani brand, Paolo Roviera is succeeded by Luigi Ferrando, who hails from the furniture industry.