Designers Switching Houses & Moving to New Brands | Page 11 | the Fashion Spot

Designers Switching Houses & Moving to New Brands

Oh gosh, they have to be really desperate if they have Jacquemus in mind. On the other hand that Lucie girl would be a disaster, too.
 
Carven Names Dior Alum Serge Ruffieux Creative Director

It was announced today that Serge Ruffieux will become the new creative director of Carven. In the role, which he assumes on February 1, he will oversee all ready-to-wear and accessories, with his first collection taking place during the Resort 2018 season this spring.

If Ruffieux’s name sounds familiar, it’s because he and his partner, Lucie Meier, led Dior’s design team under Raf Simons and produced the interim Fall 2016, Resort 2017, and Fall and Spring 2016 Haute Couture collections for the house. Those collections were notable for adding a flirtier, younger spirit to Dior. Prior to Dior, the Swiss-born Ruffieux worked at Sonia Rykiel as the late designer’s number two and held a position at Moschino.

“I am thrilled to embrace my new creative role at Carven, feeling a real affinity for Madame Carven and her vision of fashion. I look forward and am very honored to be leading the creative direction of the house as it enters a new chapter,” the designer said in a release.

Ruffieux replaces designers Alexis Martial and Adrien Caillaudaud, who departed Carven in October 2016. Earlier this month, the rumor mill speculated that it would be Meier who would get the top spot at Carven. As yet, she has no formal involvement with the brand.
vogue.com
 
But just last week it was reported that he and that lady were taking over at Jil Sander :unsure:
 
But just last week it was reported that he and that lady were taking over at Jil Sander :unsure:

no it's her and her husband who designs OAMC that are rumored to be taking over jil
 
I loved the work of Alexis and Adrien at Carven and was really sad to see them go, but I think Serge Ruffieux is a great match for the brand. Hopefully...
 
Versace Delaying IPO; Eyeing Riccardo Tisci, Sources Say

By Luisa Zargani on January 19, 2017

Market sources say that the Italian fashion company is working on an expansion plan ahead of the listing and that it has made overtures to Givenchy's artistic director in recent months.


MILAN — Could Versace be growing cautious about rushing to an IPO, even as it could potentially shake up the designer landscape by chasing none other than Givenchy’s Riccardo Tisci?

Market sources say that the Italian fashion company is rethinking the timing of its initial public offering as it embarks on a significant expansion plan ahead of a listing. To that end, according to numerous sources, Versace has made overtures to Tisci and held discussions in recent months.

The likelihood of a deal between the Italian fashion house and Tisci could not immediately be learned, but speculation is mounting that the two sides are in talks. The designer, Givenchy’s artistic director, is in the throes of preparing his fall men’s show for the runway on Friday night, alongside his winter couture collection.

Givenchy said Wednesday that it does not comment on rumors.

Sources said any contact between Versace and Tisci would be delicate, given his close relationship with Donatella Versace, which culminated with her appearing in Givenchy’s fall 2015 campaign. It was considered boundary-breaking to use another designer to promote a competing label’s collection — tantamount to Ford inviting Chevrolet to make a cameo in one of its spots.

Luring Tisci away from Givenchy, which he has rejuvenated in his own image, would be a coup for Versace, given his couture chops, lifelong admiration for Gianni Versace’s legacy — and a circle of friends that spans from Kanye West and Beyoncé to Marina Abramović and Madonna.

It would be unsettling for the French fashion house, given Tisci’s long tenure at the brand and its current business momentum. He is in the midst of widening the Givenchy lifestyle, having recently introduced jeanswear and children’s wear, and segmenting his collections into street, classic and fashion offerings.

A Versace spokesman on Wednesday denied that the IPO has been put on hold, claiming that there was “never a specific timetable for that or any other financial event. We did not have a particular target date, and thus nothing has been postponed.”

While it is true that in light of the uncertain market no precise date was set, a three-to-five-year timeframe for a public offering was cited in 2014 and was reiterated several times in 2016 by former chief executive officer Gian Giacomo Ferraris. Now sources say independent board members have stepped down, which is a sign that the listing is no longer a priority.

“Our board is half family members and half non-family members, so it’s incorrect to say that there are no members outside the family,” said the spokesman. But it is likely the non-family members are part of The Blackstone Group, which bought a 20 percent stake in Versace in 2014.

As for Tisci’s potential arrival at the company, the spokesman said, “Donatella Versace is the creative director of the company and at this time we do not have any plans to change that. Beyond that, of course, we do not comment on rumors.”

He did not specifically address whether talks have been held with Tisci.

A market source underscored that “the entire family is dedicated to the company’s heritage, their mission is to make the company as successful as possible.”

In that light, Donatella Versace welcoming a designer of Tisci’s clout would be in line with her past efforts to champion young talent. Versace tapped Christopher Kane in 2009 to help relaunch the Versus line and, when the two parted ways, she forged a new path for the brand, developing it into a seasonless line with a strong digital component, with the intention of working with young designers with a fresh approach. In 2013, she tapped Anthony Vaccarello as a guest designer for Versus, and then named him its creative director, until he departed last year to join Saint Laurent.

A source highlighted Versace’s awareness of the current times. “She is connected and she understands what young customers want, and what would really propel the brand forward. She needs to think of the future of the company,” said the source.

To be sure, a leading designer such as Tisci would ramp up the brand’s “cool factor,” social media reach and appeal.

As far back as May last year, a source told WWD of the idea of Versace possibly “pairing with a designer, perhaps Riccardo Tisci, in light of how close they are. She could be more of the soul and image of the brand.”

When Donatella Versace appeared in the Givenchy ads, Tisci told WWD: “There’s no jealousy and no competition between us. It’s a real, pure friendship: Somebody who’s part of my gang, part of my family. We want to give a message of friendship and love.”

At that time, Versace echoed the sentiment, and gave a resounding endorsement to her Paris-based counterpart: “Riccardo Tisci is extremely talented and, above all, my dear friend. We are family. I want to get rid of the old system, work together, support each other and make fashion a true global community.”

Speaking about the future from Blackstone’s point of view, a source said the New York-based group could be looking for an exit over the next 36 months given most private investor’s three-to-five year time frame and that selling to another private equity fund is unlikely. As a result, an IPO remains the most logical solution, unless a fashion or industrial group makes a move to buy all of Versace.

Multiple sources concurred that the Versace family is deeply committed to the company, has great ambitions for it and feels the responsibility to grow it in the wake of Gianni Versace’s murder in 1997. His niece Allegra Versace Beck inherited 50 percent of the company, and his sister and his brother Santo have a 20 and 30 percent stake, respectively.

“This is a positive step, Versace will go public when it is stronger,” said a luxury goods analyst, who spoke on conditions of anonymity.

Doing that now “with these financial numbers is not conceivable; Versace’s growth rate has to get stronger,” said another analyst.

To be sure, 2016 was not an easy year for the luxury goods sector, with an increasingly competitive and uncertain arena. “It’s a longer process than they thought; they need to reset and take the time to grow,” said a source.

When former Alexander McQueen ceo Jonathan Akeroyd was appointed to succeed Gian Giacomo Ferraris last year, he said: “They’ve done an incredible job over the last three to four years, and my priority now is to get a handle on the business, get involved and increase the momentum. There is a huge amount of ambition from the Versace family and from Blackstone, and Blackstone is definitely in line with the family’s vision.”

The executive at the time underscored Donatella Versace’s sensibility. “She has a really contemporary vision for the brand and a massive eye for talent. Very few brands have that combination of heritage and being so progressive.”

In turn, she emphasized that Akeroyd’s “experience building contemporary brands is also very simpatico with Versace’s desire to continue to stay relevant with younger audiences.”

Versace’s own stores are increasingly becoming the engine behind the brand’s growth, as shown by its performance in 2015, when retail sales were up 28.9 percent to 400.7 million euros, or $440.7 million.

In 2015, earnings before interest, taxes, depreciation and amortization rose 19.9 percent to 81 million euros, or $89.1 million. The Milan-based group saw revenues increase 17.5 percent to 645 million euros, or $709.5 million.

Dollar figures were converted from the euro at average exchange rates for the periods in question.

Ferraris was tapped in 2009 to restructure the company and in 2010 the company swung back to profit ahead of the 2011 date that had been forecast, and started setting its expansion. In 2011, the company posted earnings of 8.5 million euros, or $11.8 million, compared with a loss of 21.7 million euros, or $28.6 million, in 2010. Revenues rose 16.4 percent to 340.2 million euros, or $472.6 million. The company embarked on a retail expansion around the world, re-entered Japan, and returned to the couture schedule after pulling out in 2004.

Talks about a possible Versace IPO have surfaced repeatedly over the years, as the family was pursuing that plan until Gianni Versace’s death. In 2004, Versace took initial steps in that direction, appointing Lazard and Credit Suisse First Boston to find a minority investor with the eventual plan to take the company public. But the project fizzled. In 2006 and 2007, a listing once again emerged as a possibility for the company, until it hit a rough patch in the following few years.

Blackstone bought a 20 percent stake through a capital increase of 150 million euros, or $205.8 million, and acquired shares for 60 million euros, or $82.3 million. The deal valued the company at 1 billion euros, or $1.38 billion, to accelerate its development with the goal to publicly list the firm in three to five years. The Italian fashion firm was looking to sell a 20 percent holding to finance future growth, as the family wanted to maintain control over the company.

As reported at the time of the sale, Ferraris said he hoped for Versace to reach global sales of 800 million euros, or $1.09 billion, in three years.

Ferraris had set a target for a possible IPO: when the company hit sales of 500 million to 600 million euros, or $676 million to $811.2 million. Last year, he reiterated the three- to five-year time frame first cited in 2014, highlighting the two main elements to take into account: The shareholders — led by the Versace family and Blackstone Group, which owns 20 percent — and the market’s openness to IPOs.

Source: http://wwd.com/fashion-news/designer-luxury/sources-say-versace-delaying-ipo-in-talks-with-riccardo-tisci-10754409/
 
I don't know, I find really hard to believe that Donatella would want to step down or that the company would even suggest her to.
 
I was against Tisci for Dior, but I've got no problem seeing him at Versace. As it is Tisci at Givenchy is frankly speaking, contrived. And I feel that Donatella doesn't incorporate enough fresh ideas into her work.

WWD hardly ever gets it wrong, because their sources are not the mailman, but someone higher up the ladder....
 
Well both aren't doing anything interesting fashionwise atm, so why not try to work together and hopefully create something more interesting together. But I'm really not that hopeful, I'll try. ;)
 
WWD EXCLUSIVE: Riccardo Tisci Has Exited Givenchy

The Italian designer brought heat, showmanship and fashion thrills to the French house.

By Miles Socha on February 2, 2017

Riccardo Tisci, who revved up and reinvented Givenchy in his own edgy image, has exited the French house after an electrifying 12-year tenure.

The French couture house confirmed his departure exclusively to WWD, noting that his last collections were fall-winter 2017 men’s wear and fall 2017 couture, which were paraded together at the National Library of France in Paris on Jan. 20.

Sources described the parting as mutual and amicable, the separation effective Jan. 31 following the expiration of his latest employment agreement.

Tisci’s departure is sure to intensify speculation he is heading to Versace.

WWD broke the news on Jan. 19 that the Milan-based house has been chasing Tisci, who has long expressed his admiration for the work of the late Gianni Versace and cultivated a close friendship with his sister Donatella, whom he invited to pose in a Givenchy ad campaign in 2015.

In light of Tisci’s departure, Givenchy will not stage a runway show on March 5 during Paris Fashion Week.

It is understood the fall-winter 2017 women’s collection will be designed by the studio and sold to retailers in Givenchy’s Paris showroom as usual.

The format for presenting the collection to the press has yet to be determined.

Givenchy’s ateliers are also working on some of Tisci’s final designs as sources told WWD that he has lined up stars to wear custom couture outfits at the Grammy Awards on Feb. 12 and the Academy Awards on Feb. 26.

Celebrities in Tisci’s orbit include the likes of Meryl Streep, Beyonce (who on Wednesday revealed she and her husband Jay Z are expecting twins), Julia Roberts, Cate Blanchett, Ciara and Kanye West.

Givenchy did not provide any timelines for naming a successor and declined all comment on potential candidates.

Tisci’s exit is the latest tremor as creative upheaval spreads through the top ranks of international fashion.

Over the past year, Christian Dior, Yves Saint Laurent, Valentino, Marni, Lanvin, Chloé, Jil Sander, Ermenegildo Zegna, Roberto Cavalli, Oscar de la Renta, Salvatore Ferragamo and Carven have all made changes in creative leadership.

As Givenchy draws up its list of potential candidates, it could draw on such well-known designers on the market as Hedi Slimane, Alber Elbaz, Peter Dundas, Clare Waight Keller and Peter Copping. Buzzy designers like Balmain’s Olivier Rousteing could also be on its radar.

In a statement, Bernard Arnault, chairman and chief executive officer of LVMH Moet Hennessy Louis Vuitton, Givenchy’s parent, lauded Tisci’s accomplishments.

“The chapter Riccardo Tisci has written with the house of Givenchy over the last 12 years represents an incredible vision to sustain its continuous success, and I would like to warmly thank him for his core contribution to the house’s development.”

For his part, Tisci said, “I have very special affection for the House of Givenchy and its beautiful teams. I want to thank the LVMH group and Monsieur Bernard Arnault for giving me the platform to express my creativity over the years. I now wish to focus on my personal interests and passions.”

A bundle of creative energy forever shod in Nike sneakers, Tisci was a daring, uncharacteristic hire for LVMH, which has a track record of casting media stars to helm its fashion brands, which also include Fendi, Céline, Kenzo, Loewe and Pucci.

Tisci was relatively unknown, and just 30, when he was recruited by then Givenchy ceo Marco Gobbetti, who is to assume the management helm of Burberry later this year.

Tisci succeeded a string of designers who, to varying degrees, encountered some bumps on the road to brand rejuvenation following the 1995 retirement of founder Hubert de Givenchy.

After a brief stint by John Galliano, who moved on to Dior, Alexander McQueen tried his hand. But his eclectic collections — space aliens one season, rockabilly the next — failed to galvanize the house. Next up was Julien Macdonald, who went back to a style rooted in French elegance and sophistication, but did not win much acclaim.

Tisci brought stability — and heat — to the storied name, immediately making inroads with the world’s leading specialty stores and spawning a series of hit leather goods, kicking of with the Nightingale bag.

He took on design duties for men’s wear three years later, and helped ignite the streetwear trend with his T-shirts printed with snarling Rottweilers or big stars, among his fetish motifs.

Setting a daring template informed by the energy of the club scene and tinged with sexual provocation, Tisci quickly became one of men’s wear’s most influential and original designers.

He had recently expressed a desire to extend Givenchy’s reach as a lifestyle brand, having introduced a range of clothes for babies and children that is slated for July delivery.

According to market sources, Givenchy increased more than sixfold in size during the Tisci era, and the brand’s revenues are now north of 500 million euros, or $540 million at current exchange. The number of employees has risen to more than 930 from 290 in 2005.

Philippe Fortunato, ceo of Givenchy, has been spearheading its recent expansion thrust and credited Tisci’s “visionary qualities that led to a strong growth of the brand.”

Fueled by Tisci’s design chops, powerful communication skills and clutch of A-list celebrity friends, the brand has been tracking strong sales momentum and profitability, sources said. Once dependent on wholesale, Givenchy continues its retail rollout, with a Rome boutique slated to open this year and a London flagship in the works for early 2018.

The company also recently took over direct distribution of its collections in two key luxury markets: Dubai and Singapore.

Givenchy today boasts 72 freestanding stores, compared to only seven in 2005 when Tisci arrived.

Something of a fashion wunderkind, Tisci grew up poor in Taranto, Italy, and Como during the boom years for Versace, Armani and Valentino.

At 16, fresh out of art school, he landed a job designing fabrics for an Italian textile firm, at which point his destiny became clear. A year later, he was at Central Saint Martins and earning British scholarships that allowed him to finish his degree.

His first work experiences were in Italy, with Stefano Guerrero, Antonio Berardi, Coccapani and Ruffo Research, while he nurtured his signature label with a strong following in London. When Ruffo went bankrupt, he went soul-searching in India, gathered up his strength, and returned to Milan and staged a show that would all but seal his employment contract at Givenchy.

Once installed at the couture house, he brought a dark, Goth-tinged fierceness and severity, which he ultimately married to more romantic inclinations, clashing together such disparate influences as Victorian dressing and chola culture to produce runway fireworks.

Tisci would seen a natural for Versace, given his penchant for bold prints, demonstrative hardware and tough chic.

“I’m mature, and I’m different, but I was born a daring designer and I’m going to die as a daring designer. That is me,” he told WWD last year.

As reported, Versace is rethinking the timing of its initial public offering as it embarks on a significant expansion plan ahead of a listing.

Asked on Jan. 19 about Tisci’s potential arrival at the company, a spokesman said, “Donatella Versace the creative director of the company and at this time we do not have any plans to change that. Beyond that, of course, we do not comment on rumors.”

Were Donatella Versace to welcome a designer of Tisci’s stature would be in line with her past efforts to champion young talent. Versace tapped Christopher Kane in 2009 to help relaunch the Versus line and, when the two parted ways, she forged a new path for the brand, developing it into a seasonless line with a strong digital component, with the intention of working with young designers with a fresh approach. In 2013, she tapped Anthony Vaccarello as a guest designer for Versus, and then named him its creative director until he departed to join Saint Laurent.

To be sure, a leading designer such as Tisci would ramp up the brand’s “cool factor,” social media reach and appeal. The designer boasts 1.8 million followers on Instagram.

When Donatella Versace appeared in the Givenchy ads, Tisci told WWD: “There’s no jealousy and no competition between us. It’s a real, pure friendship: Somebody who’s part of my gang, part of my family. We want to give a message of friendship and love.”

At that time, Versace echoed the sentiment, and gave a resounding endorsement to her Paris-based counterpart: “Riccardo Tisci is extremely talented and, above all, my dear friend. We are family. I want to get rid of the old system, work together, support each other and make fashion a true global community.”

The Blackstone Group bought a 20 percent stake in Versace in 2014. Family members hold the rest of the equity.

Versace’s own stores are increasingly becoming the engine behind the brand’s growth, as shown by its performance in 2015, when retail sales were up 28.9 percent to 400.7 million euros, or $440.7 million.

In 2015, earnings before interest, taxes, depreciation and amortization rose 19.9 percent to 81 million euros, or $89.1 million. The Milan-based group saw revenues increase 17.5 percent to 645 million euros, or $709.5 million.

Dollar figures were converted from the euro at average exchange rates for the periods in question.

WWD.COM
 
Oscar de la Renta

In: Laura Kim and Fernando Garcia

Marni:

In: Francesco Risso

Were they mentioned here?


I wonder how much time left has Guillaume at Ricci. I think he will be the next one out of a brand.
 
From WWD

Emanuel Ungaro

Out: Fausto Puglisi
In: Marco Colagrossi

At last!!! :clap:
 
^Finally, but it doesn't really help Ungaro at this point
 
Ungaro seems like a lost cause to me. They had so many opportunities but they always failed due to management.
Peter Dundas did a fantastic job..He was out after 3 seasons.
Then, it was Cortazar who did a quite decent job but who was out after that tragic Lindsay thing. Then, after the unknown woman, Giles Deacon who was also out after 2 seasons.

And now, Puglisi...etc.

I really don't know who can save this house. I don't even know if they profitable.

I hope that Colagrossi would do a good job and not follow what is happening in fashion now. Ungaro needs to stand-out.
They also needs a proper stylist to help them with their vision.
 

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