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CEO of Roberto Cavalli to leave company

Sep 18, 2020 Italy
CEO of Roberto Cavalli to leave company
Gian Giacomo Ferraris, Roberto Cavalli's CEO, is exiting his role at the end of the year. Previously, Ferraris worked for Versace and has joined Roberto Cavalli as CEO in 2016
According to Yahoo!Sports.com the executive has announced the decision to his team in a letter: “we worked together with extraordinary commitment and passion in order to ensure a future (...) Unfortunately, as you all know, despite my strenuous and steady commitment, we didn’t manage to secure the financial resources needed to continue our efforts in 2019. Instead of investing to renew the store network and support the brand repositioning with appropriate marketing and communications campaigns, with investments in VIP and celebrity partnerships and in digital communications, we had to face a financial restructuring. We managed to overcome that crisis situation after significant sacrifices, also thanks to our new shareholder. But, very soon after, our plans were halted by the devastating impact of the pandemic".

This follows previous rumours after a series of negotiations with unions and the closing of one of the offices outside Florence, after which more than 100 of the 170 employees lost their jobs.

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