Italian Fashion Designers

Armani hires ex-Versace financial head for US unit | Consumer Products & Retail | Reuters

Giorgio Armani has hired the financial head of rival Versace as acting chief operating officer of the Italian designer's business in America, where it has just launched an online store for its Emporio Armani line. Armani said in a statement Daniele Ballestrazzi, "one of the fashion industry's most experienced managers," worked for the Versace Group from 1992, latterly as chief financial officer.

Versace said Ballestrazzi would be replaced by Massimo Sala.

Ballestrazzi's appointment is "an indication of the importance that we attach to the North American market ... our number one market," a spokesman for Armani said.

Armani has steadily expanded its worldwide business beyond couture and pret-a-porter fashion to interior design, hotels, jewellery and other accessories.

Its latest venture, an online Emporio Armani store, opened a week ago for U.S. clients (www.emporioarmani.com).

Results so far are "very, very, favourable ... (although) a week is not a long time," the spokesman added.

posted by Eugen @ 5:07 PM