Etro has appointed Fabrizio Cardinali as its CEO, effective in Q4. The company said he brings “more than 25 years of strategic leadership expertise and an unmatched track record in the luxury fashion space”.
Milan Fashion Week is scheduled on September 21-27 with an extensive programme including 65 shows, 42 of which will have in-person guests. Physical events will be in a majority, 125 as opposed to only 46 digital ones.
Covid has forced the Italian luxury industry to step up the pace of its transformation and search for investors, as shown by Zegna announcing a forthcoming stock market listing, and L Catterton’s acquisition of Etro.
In a month that's shaping up to be huge as far as luxury deals are concerned, the latest news is that LVMH is boosting its stake in Off-White. Virgil Abloh's streetwear label will now be 60% owned by the French giant.
Just a day after news that L Catterton will take a stake in Etro, Ermenegildo Zegna said it will list its shares in New York and is combining with Investindustrial Acquisition Corp, which will be a minority shareholder.
Milan Fashion Week Men ended on Tuesday with a sense of unfinished business. Nearly all shows were virtual and there was little buzz in the city, though designers conveyed unreserved optimism in their videos.
The almost fully virtual fashion week runs until Tuesday, with only Armani, Dolce & Gabbana and Etro hosting physical shows. Highlights include the first collection by Glenn Martens for Diesel and eight new labels.