Read today’s dose of chic intel right here…
Roberto Cavalli Is Liquidating Its North American Operations (Business of Fashion)
Roberto Cavalli has closed its US stores and is liquidating its North American operations, known as Art Fashion Corp. The company’s 93 employees were let go on Friday. Meanwhile, US CEO Salvatore Tramuto has resigned. Art Fashion Corp. is expected to file for Chapter 7 bankruptcy (aka liquidation bankruptcy) this week. The company has operated at a loss for the past five years.
Michael Kors Leaves the Board of Capri Holdings (WWD)
Michael Kors has stepped down as director and executive officer of the board of Capri Holdings, although he will continue to work with the company and head up his own brand. “Mr. Kors remains the honorary chairman and chief creative officer of the Michael Kors brand,” John Idol, chairman and CEO of Capri, told WWD. “He is the leader of our successful American luxury house and will continue to guide its creative vision.”
Fendi’s CEO Talks Life After Lagerfeld (South China Morning Post)
In an interview with the South China Morning Post, Serge Brunschwi, CEO of Fendi, revealed that the house will take its time finding a successor to the late Karl Lagerfeld. “We’re approaching this with calm. People can wait,” he said. “I don’t feel any pressure because it’s important that we make the right decision. We lost Karl, but in the meantime our teams are working on the upcoming collections. We still have one half of our creative team in Silvia. We have the resources inside the house.”
Miranda Kerr Is Having a Baby (Instagram)
Miranda Kerr is expecting a child with her husband, Snapchat founder Evan Spiegel. The model posted an image of herself on the red carpet at this weekend’s Gruner & Jahr Spa Awards accompanied by the pregnant woman emoji and the baby emoji. This is Kerr’s second child with Spiegel, and her third child overall — she has son, Flynn, with her first husband, Orlando Bloom.
View this post on Instagram
Steven Kolb Jokes that the CFDA Is Headed to LA (Facebook)
April Fools! CFDA president and CEO Steven Kolb decided to play a prank on the American fashion industry this morning, posting a fake WWD article on Facebook saying that new chairman Tom Ford is moving operations to Beverly Hills.