The lockdown around the world and the lack of tourists’ flows affected the company’s sales, which fell 46.6 percent to 377 million euros in the first six months of the year ended June 30.
Tracing the history of the founder of the namesake fashion group, the film will be screened in the Out of Competition section at the Festival, scheduled to run Sept. 2-12 in a physical format.
The Italian fashion group’s credit line with Intesa Sanpaolo SpA is for a maximum amount of 250 million euros.
As executives look at the second half, Milan is gearing up for its first digital fashion week.
The Florence-based company is also rejuvenating the Ermanno line under new general manager Sofia Ciucchi.
The executives were among the 25 entrepreneurs who received the “Knight of Labour” honor by the president of the Italian Republic.
Analysts weighed in on the news, which drove shares up 13.2 percent to 12.66 euros by midday on Thursday as Norsa took on the role of executive deputy chairman.
Norsa helmed the Florence-based company for 10 years, publicly listing it in 2011 and exiting in 2016.
Hurt by the coronavirus pandemic in the first quarter, the company has been containing costs and renegotiating rents, as China shows encouraging signs of improvement.
More exposed to China and tourism, the Italian group recorded a loss of 41 million euros compared to profits of 11 million euros in Q1 2019.
Micaela le Divelec Lemmi believes the launch of the new web site is especially significant at this time of isolation caused by the coronavirus pandemic.
The luxury company teamed with the Italian Red Cross to give extra support to the fight against the pandemic.