Word: grossman
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...realities have intervened. In February, Andrew Grossman, the man Armani hired 10 months earlier to oversee U.S. operations, was asked to resign. Industry insiders say Grossman's middle-market thinking clashed with Armani's. In March, Matthias Vriens, the creative director Armani hired last July, took a job at Gucci. And then in April, Armani's managing director and key deputy, Giuseppe Brusone, made it known he would be leaving after 15 years with the company. Suddenly the question appeared to be, How will Giorgio get things done...
...competition on its home turf--men's suits--from the likes of Ermenegildo Zegna. And 19 years after its introduction, the younger and cheaper Emporio Armani collection is struggling to define its identity with the notoriously fickle 25- to 35-year-old market. That was one reason Armani hired Grossman, his first U.S. chief in five years...
...time being, Armani is running things himself, but he still needs to find replacements for Brusone and Grossman, and some see that as a good opportunity. Says luxury-goods consultant Armando Branchini: "Giorgio Armani products have great potential, but they need new ideas and new management--a new approach to the market." Armani himself agrees. Sort of. "Armani does not have the big brand problems of Nike and Coke," says corporate spokesman Robert Triefus. "Mr. Armani doesn't feel the brand needs to be reborn. But it's going through an evolution. Absolutely...
That amount, multiplied by all the sentimental souls in the nation, equals good business for such companies as EK Success (which sells acid-free pens), Mrs. Grossman's (which specializes in stickers of butterflies and puppies and such) and Fiskars (which makes scissors). There are even magazines devoted entirely to the joys of scrapbooking. Creating Keepsakes is the biggest publication, with a circulation of almost a quarter-million. The magazine started publishing six times a year in 1996; now it is published 10 times a year and attracts 5,000 new subscribers a month. And inevitably, an online scrapbook, LifeSketch.com...
...Grossman...