×
77 206
Fashion Jobs
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Marietta
L'OREAL GROUP
Manager - DTC Operations
Permanent · Clark
L'OREAL GROUP
sr Manager-Supply Planning
Permanent · New York
SCOTCH & SODA
Scotch & Soda- Women's Buyer
Permanent · New York City
COTY
National Account Manager, Heb
Permanent · San Antonio
NIKE
North America, Consumer Direct Marketing Manager - Running
Permanent · Beaverton
JCPENNEY
Senior Legal Specialist, Property And Real Estate
Permanent · Plano
PUMA
Junior Product Line Management, Run Train Footwear
Permanent · Somerville
BLOOMINGDALE'S
Manager, Sales - Cosmetics/Women's Shoes
Permanent · Palo Alto
BLOOMINGDALE'S
Manager, Sales - Rtw/ia/Ladies Shoes
Permanent · Boca Raton
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time: Valley Fair
Permanent · San Jose
MICHAEL KORS (USA) INC
Director of Marketing Technology
Permanent · East Rutherford
ESTÉE LAUDER
Senior Analyst, Business Analyst, Global R&D Technology
Permanent · New York
ESTÉE LAUDER
Account Coordinator - Estee Lauder - 40 Hrs - Macys Millenia Mall - Orlando, fl
Permanent · Orlando
ESTÉE LAUDER
Vice President, Finance & Business Management - Brand Cluster, na
Permanent · New York
ATHLETA
General Manager - nw Hwy - Park Ridge (New Store)
Permanent · Park Ridge
GAP INC
Associate Analyst, Finance (Capital Accounting)
Permanent · Albuquerque
GAP INC
Finance Manager (Strategic Growth Office)
Permanent · San Francisco
RAG & BONE
Sales Supervisor (Full - Time) - Riverhead
Permanent · Riverhead
FOSSIL
Ecommerce Operations Coordinator
Permanent · Houston
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Round Rock
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Silver Spring
Published
Apr 13, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Roberto Cavalli suffers 26-million-euro loss in 2016

Published
Apr 13, 2017

Italian fashion house Roberto Cavalli revealed Thursday that it had suffered a dramatic 26-million-euro loss in 2016, as the colorful brand marked went through a brutal turnaround. The Florentine labelled cautioned, however, that direct sales had stabilized in the first months of the current year thanks to its re-organization efforts. Nonetheless, total revenue plunged a whopping 13.6 percent to 155.2 million euros in 2016.

Roberto Cavalli - Spring-Summer2017 - Womenswear - Milan - © PixelFormula



In a difficult 2016 for the house, Roberto Cavalli laid off 200 staff in October out of a total workforce of 672, In the same month it fired its up-tempo designer Peter Dundas, after his hippie chic style failed to gain traction. The restructuring clearly impacted on the financial performance of the house, which has still not named a successor to Dundas.
 
Cavalli added in a release that these restructuring costs contributed to a net loss of 55 million euros, or a negative EBITDA (earnings before loss before interest, tax, depreciation and amortization) of the 26 million euros.

However, Chief Executive Officer Gian Giacomo Ferraris, was bullish about the future: “These results are in line with forecasts and there is no surprise. On this basis, in only two months, we have started a re-organization and re-development plan that is already producing its first results. Roberto Cavalli direct sales have already stabilized, and in fact we start to see an increase during the first quarter of this year.”

A much respected luxury executive, who joined Cavalli after playing a vital role in the turnaround at Versace, Ferraris joined Cavalli in August 2016.
 
“We know that there is still a long way to go but we have valid reasons on which to base our cautious optimism. Firstly, a positive net financial position for over euro 20 million and net assets worth over euro 210 million. We have assembled a new, first-class management team. And, finally, we have started to internalize potentially significant businesses, such as Roberto Cavalli Men’s clothing, Junior, Underwear and Beachwear,” said the CEO.

No news, all the same, about the most important hire: a new creative director. However, Cavalli, which has been going through an overhaul since Italian private equity firm Clessidra bought it in April 2015, confirmed a return to profitability in 2018.



 

Copyright © 2022 FashionNetwork.com All rights reserved.