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Roberto Cavalli announces job cuts, closures, removes Dundas

FILE - In this Wednesday, Sept. 21, 2016 file photo, Roberto Cavalli fashion house creative director Peter Dundas acknowledges the applause of the audience after presenting the Roberto Cavalli women's Spring-Summer 2017 collection, in Milan, Italy. Roberto Cavalli CEO Giacomo Ferraris said Wednesday, Oct. 12, 2016, that Dundas, who took over in March 2015, is leaving the house, as it's going through a period of transformation and that a new creative director will be named. (AP Photo/Luca Bruno)
October 12, 2016 - 8:33 AM

MILAN - Roberto Cavalli's new owners are cutting 200 jobs, closing stores and replacing the fashion house's creative director in a reorganization aimed at making a profit by 2018.

Chief Executive Gian Giacomo Ferraris said the reorganization is necessary given the fashion industry is one where "only iconic brands with a coherent business model and an efficient organization can survive."

The company unveiled the plans Wednesday after announcing creative director Peter Dundas was leaving after only three seasons.

The Norwegian-born Dundas had worked at Cavalli during its heyday from 2002-2005 and returned in March 2015 after completing a seven-year run as Pucci's creative director. He had the delicate task of reviving a brand viewed as past its prime while retaining its most iconic elements after the house founder, Roberto Cavalli, sold a majority stake to private equity firm Clessidra.

Cavalli retains a 10 per cent stake and remains a consultant.

The reorganization calls for closing Roberto Cavalli's Milan corporate and design offices and relocating them to Florence, closing some stores and reducing the global headcount of 672 by 200, a statement said.

Several other fashion houses have been undergoing similar reorganizations on both creative and administrative sides.

News from © The Associated Press, 2016
The Associated Press

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