Word: bulgari
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...well as putting together a new management team, Alessandro has also sought to delineate more clearly the roles played by the family and by management. The new managing director, Gerolamo Caccia Dominioni, comes from Warner Music, while the current CFO, Alberto Nathansohn, jumped this year from luxury jeweler Bulgari...
...analysts scan the landscape they see a virtual Who's Who of battered luxury chains. "Saks and Neiman's sales are horrendous. Tiffany was down 27% in U.S. same-store sales last quarter, Bulgari was down 21%, Harry Winston sales were down 49%, and [LVMH Moet Hennessy] Louis Vuitton down 23%," says Howard Davidowitz, chairman of Davidowitz & Associates, a retail consulting and investment banking services firm. "If you look at Madison Avenue, it's a ghost town in terms of store closings. It's an absolute disaster." (Read "How Consumers Shop Differently Today...
Luxury designer retailers and fashion houses have taken most of the worst blows, with some, such as Bill Blass, Fortunoff, Christian Lacroix and IT Holding SpA (which owns the Gianfranco Ferre label) either filing for bankruptcy protection or liquidating their assets. Several more, such as Prada, Bulgari, Mariella Burani and Valentino Fashion Group, are treading water under a tidal wave of debt...
...they call themselves, met in Portuguese class while undergrads at Harvard. Both went on to Harvard Business School, after which Wilson worked for eBay, overseeing eBay Canada and launching eBay Motors, while Maybank ran retail operations at Bulgari and sales-forecasting at Louis Vuitton. Eventually, however, "we discovered we were spending way too much time sneaking to sample sales and taking orders for family members," Wilson says. "We thought this might be a simpler way to go about it and more fun." Only now occasional restraint is in order. "We actually have a policy that we can't buy merchandise...
...like an unlikely place to find a five-star hotel decked out in multicolor stripes and zigzags, but come May, Scotland's capital will be home to the first Hotel Missoni (a second branch opens in Kuwait in June). The family-owned company follows the well-heeled footsteps of Bulgari and Versace as the latest Italian fashion house to venture into the hospitality business. Rosita Missoni, co-founder along with her husband Tai of the Missoni brand and now head of Missoni home collections, partnered with the Brussels-based hotel group Rezidor to translate the company's signature colorful knits...