Missoni changes management

Missoni S.P.A. is restructuring its company with a newly appointed CEO, Massimo Gasparini. The company, which last year saw sales climb to 75 million euros, is making big changes, starting at the top. Gasparini, in an interview with Women’s Wear Daily stated: “Vittorio, Luca and Angela Missoni realised that, to manage the company going forward into this next phase of development, it was fundamental and necessary to turn to external management.” The family decided to delegate the management of the company to a team.

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The Missoni’s are also keen to better organise their company as third-generation family members come of age. There are nine heirs to the family business. The eldest, 24-year-old Margherita, is currently studying acting in New York and has a recurring role in Missoni’s fragrance ads. As a personal side project, Margherita also is designing a costume jewellery line for Goldsmith’s of London.

One of the first changes is taking place is the discontinuation of Missoni Sport. The line, which has been going for 14 seasons, will see its final collection hit the stores in spring 2008. Luca Missoni will relinquish his creative role for both the sport and mainline menswear collection and will focus on events and a Missoni Museum. Vittorio Missoni, formerly director of marketing and sales, now is overseeing “institutional affairs” at the company, acting as an ambassador for the brand at various functions. Angela Missoni will stay at the helm of its womenswear design, as well as menswear and the house’s other products.