“The major recession is over” for luxury goods, Gianluca Brozzetti said in an interview yesterday before the Just Cavalli fall 2010 women’s wear runway show in Milan. “Still, 2010 will be a year of transition.”
Revenue at Cavalli declined 22 percent to 174.7 million euros in 2009, hurt by unpaid royalties from the Just Cavalli line in the first half of the year and a 27 percent drop in sales in the U.S., Brozzetti said. Revenue fell 9 percent in the rest of the world. Just Cavalli is manufactured under license by Ittierre SpA, a unit of IT Holding SpA, which went into government-backed administration last February.
This Spring, ROBERTO CAVALLI will open a new showroom for its first line, one of the largest luxury fashion showrooms in Milan. The showroom will be situated in downtown Piazza San Babila and will cover almost 2.000 sqm.
from Business Week & CPP
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