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This week in fashion news: One major luxury designer stepped down, and another luxury conglomerate saw changes in the C-suite.
Alberta Ferretti leaving namesake brand
Alberta Ferretti, creative director at her eponymous brand, is leaving her position, with a successor to be named. The 74-year-old Italian designer, who founded the brand in 1981, said in a statement that her decision, while “difficult” and “complicated,” was also “very thoughtful…to make room for a new chapter for my brand, a new narrative.” Ferretti will continue to operate as the deputy chair of Aeffe, the luxury conglomerate that owns the brand.
Why this matters: The luxury industry has seen a slew of executive changes recently. Earlier this month, Tom Ford tapped designer Haider Ackermann as its new creative director, replacing former Creative Director Peter Hawkings, who only held the position for two months. Meanwhile, Burberry recently appointed Joshua Schulman as CEO, replacing Jonathan Akeroyd who also had a short stint at the company.
LVMH’s head of business to exit
Speaking of executive shifts, Chris de Lapuente, LVMH’s head of business unit, is set to leave the company, Bloomberg reported. The executive who first joined LVMH in 2011 as the CEO of Sephora currently oversees the selective retailing division of LVMH Moët Hennessy Louis Vuitton SE. No reason has been specified for his exit.
Why this matters: LVMH has seen a number of changes within its C-suite. In 2023, for instance, Pietro Beccari, chair and CEO of Christian Dior Couture, replaced Louis Vuitton CEO Michael Burke, who left his position after 10 years. Meanwhile just this year, the company also hired Pierre-Emmanuel Angeloglou as CEO of Fendi, among many other executive shifts.
Shein faces a new probe
Italy’s antitrust agency has reportedly begun to investigate Infinite Styles Services Co. Limited, a Dublin-based firm that oversees Shein’s website and app. The investigation is looking into the website for featuring potentially misleading environmental claims. According to the antitrust authority, Shein is accused of promoting information that conveys “an image of production and commercial sustainability of its garments through generic, vague, confusing and/or misleading environmental claims.”
Why this matters: Italian authorities are probing a number of fashion brands of late. Dior and Giorgio Armani, for instance, are currently under antitrust investigations by the Competition Authority of Italy for allegedly using unfair commercial practices and possibly using suppliers that paid unfair wages to their employees.