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Grauso said Theyskens’ arrival would signal no major changes in management or the pricing positioning of the collection. Ricci’s president, Christophe Hebre, joined the firm last October from Rochas, where he was instrumental in recruiting Theyskens.
Accessories currently represent less than 10 percent of the Ricci business, and Grauso said he spies a “large opportunity” for the brand to grow in handbags and shoes, categories for which Theyskens said he has many ideas.
At present, Ricci has one company-owned flagship on Avenue Montaigne in Paris, which Theyskens will ultimately make over in his image. “We would love to have a New York store in the near future, and we’d like to develop a shop-in-shop program in the near future,” Grauso said.
With Theyskens on board, Ricci now ranks as a key growth priority for the Puig Fashion Group, which also includes Carolina Herrera and Paco Rabanne. As reported, Paco Rabanne did not ship its fall/winter collection and has been winding down its high-cost Paris operations.
“We have decided to take a step back from the Paco business, and we are eliminating the collection piece,” Grauso said, officially confirming the retrenchment for the first time. “We’ve decided to focus our resources on Carolina Herrera and Ricci. They’ve shown clear signs of being able to grow.”
However, he noted that Rabanne’s creative director, Patrick Robinson, would remain with the brand to oversee licensed products such as watches and eyewear as the company scouts for deals in other categories, possibly in apparel (albeit not in the designer zone).
Paco Rabanne’s male-driven fragrance business, which is “healthy and growing,” is unaffected by the changes, Grauso noted.
Looking ahead, the executive said Ricci’s future growth drivers could include a second rtw brand. “I think Olivier’s spirit would translate into another price tier, but it’s not an immediate priority,” he noted.
For his part, Theyskens is champing at the bit to design all sorts of products for Ricci.
“Everything a woman has on is something I love,” Theyskens said, smiling. “Nina Ricci is a great brand for everything that is feminine, from lingerie to dresses. It’s a very good thing to find this alchemy.”
Accessories currently represent less than 10 percent of the Ricci business, and Grauso said he spies a “large opportunity” for the brand to grow in handbags and shoes, categories for which Theyskens said he has many ideas.
At present, Ricci has one company-owned flagship on Avenue Montaigne in Paris, which Theyskens will ultimately make over in his image. “We would love to have a New York store in the near future, and we’d like to develop a shop-in-shop program in the near future,” Grauso said.
With Theyskens on board, Ricci now ranks as a key growth priority for the Puig Fashion Group, which also includes Carolina Herrera and Paco Rabanne. As reported, Paco Rabanne did not ship its fall/winter collection and has been winding down its high-cost Paris operations.
“We have decided to take a step back from the Paco business, and we are eliminating the collection piece,” Grauso said, officially confirming the retrenchment for the first time. “We’ve decided to focus our resources on Carolina Herrera and Ricci. They’ve shown clear signs of being able to grow.”
However, he noted that Rabanne’s creative director, Patrick Robinson, would remain with the brand to oversee licensed products such as watches and eyewear as the company scouts for deals in other categories, possibly in apparel (albeit not in the designer zone).
Paco Rabanne’s male-driven fragrance business, which is “healthy and growing,” is unaffected by the changes, Grauso noted.
Looking ahead, the executive said Ricci’s future growth drivers could include a second rtw brand. “I think Olivier’s spirit would translate into another price tier, but it’s not an immediate priority,” he noted.
For his part, Theyskens is champing at the bit to design all sorts of products for Ricci.
“Everything a woman has on is something I love,” Theyskens said, smiling. “Nina Ricci is a great brand for everything that is feminine, from lingerie to dresses. It’s a very good thing to find this alchemy.”
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