News & Runway


It was reported that Giancarlo di Risio was stepping down as the chief executive officer of Versace because of strategic differences between him and the Versace family members who own the company (Versace’s profits have fallen 30 percent since last year). However, the Versace family has just released a statement saying that di Risio, who has been Versace’s CEO for the past years, will in fact not be leaving the Italian luxury house. 
British Vogue notes that the statement added that Versace has been focusing its attention for some time on the measures it should adopt to confront the effects of the economic downturn on the luxury sector.  They also stated that a three-year industrial plan has been drawn up, and will be evaluated over the next few days by the board of directors before being put into action.