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Reuters
Published
Jun 16, 2010
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Auction of Gianfranco Ferre kicks off

By
Reuters
Published
Jun 16, 2010

MILAN June 16 (Reuters) - The auction for Italian fashion house Gianfranco Ferre kicked off on Wednesday when special commissioners running its parent company IT Holding (ITH.MI) called for bids.


Gianfranco Ferré
Gianfranco Ferré Autumn-Winter 2010/2011


In an notice published in newsapers, the commissioners set a July 6 deadline to submit binding offers for Ferre and an Aug. 2 deadline for binding offers for Ittierre, the licencing and production business of IT Holding.

IT Holding, which also owns cashmere brand Malo, went into administration in February 2009 after running out of cash. IT also has put Malo on the block.

The group is made up of production unit Ittierre -- which makes and distributes clothes for lines such as Just Cavalli and Galliano -- and fashion brands Gianfranco Ferre and Malo.

Several fashion houses, such as Christian Lacroix in France and Mariella Burani Fashion Group (MBFG.MI) in Italy, fell into financial difficulties last year as the global crisis sapped demand for expensive clothes and accessories.

(Reporting by Danilo Masoni; Editing by Michael Shields)

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