Gian Giacomo Ferraris, the Chief Executive Officer at Roberto Cavalli, will be exiting from his position by the end of 2020.
While announcing about his departure through a letter, Ferraris told his team that he was leaving the firm with mixed emotions.
In the letter, he mentioned “In spite of my strenuous and steady commitment, we didn’t manage to secure the financial resources needed.”
The satisfaction of working with a good team was diluted by the sadness of failing to achieve the desired results, he said.
The move was, to an extent, not unexpected especially after one of company’s offices outside Florence was shut down – consequently leading to loss of jobs for over 100 of the 170 employees.
Reportedly, instead of investing in renewing the stores and working on brand positioning, with investments in VIP and celebrity partnerships and digital communications, the company had to face financial restructuring.
However, Roberto Cavalli overcame the crisis gradually before pandemic ruined the growth plans.
Ferraris had joined Roberto Cavalli from Versace in 2016 after taking over from Roberto Semerari.
The Italian luxury fashion firm, known for its apparels, accessories and perfumes, generates €152.4 million.