Italy Luxury Brand Roberto Cavalli Restructuring 70 Layoffs Sparked Protests

Italy's luxury brand Roberto Cavalli has laid off 70 people, resulting in protests. Sudden large-scale layoffs are totally unacceptable. They hope that Clessidra SGR SpA can take a less effective replacement method and provide protection for employees.

Restructuring has begun after a 90% stake in Clessidra SGR SpA, a private equity fund in Italy. Luxury brands in Italy Roberto Cavalli SpA is not only planning to sell property, but has also made layoffs.

It is reported that to streamline the structure and speed up the brand's reconstruction under the leadership of the new CEO Renato Semerari and creative director Peter Dundas, which is assigned by the new boss, Roberto Cavalli SpA has started the operation of the Osmannoro Osmannoro factory in northern Florence, reducing 70 of its 350 employees, and a small number of 70 employees in Milan headquarters have been affected.

　　 Layoffs The anger of employees and trade unions has been triggered. Hundreds of employees protested against the lioness's head mask on behalf of the protesters on Tuesday October 27th. They also staged demonstrations outside the Osmannoro factory in Milan on the same day. Trade union representatives pointed out that although Clessidra SGR SpA had mentioned reorganization, without a sudden introduction of Roberto Cavalli SpA's new development and investment plan, there was no sign of sudden massive layoffs. It was totally unacceptable. They hoped that Clessidra SGR SpA would be able to pick up less effective replacement methods and provide protection for employees. Women in Roberto Cavalli SpA account for 60% of women, with an average age of over 40 years.

Earlier this month, Italy media broke the news that Roberto Cavalli SpA will sell a 7 tier property located in Paris's luxurious brand Rue Saint Honore, San Angel Road, 145 million euros. Here is the location of Roberto Cavalli Paris flagship store and exhibition room. In the 100 million euros after the tax, Roberto Cavalli SpA will use 69 million euros to repay loans from banks such as Unicredit, BNL, Cariparma and Mediocredito. The rest will be used for other investments.

Roberto Cavalli SpA sold 90% stake in Italy private equity fund Clessidra SGR SpA in April this year, and Roberto Roberto Cavalli retained the remaining 10% stake. Clessidra SGR SpA executive vice president Francesco Trapani became Roberto Cavalli SpA president.

The sale of flagship property in Paris is the first step of Renato Semerari to transform Roberto Cavalli SpA from traditional family business to enterprise structure. Thereafter, the brand will focus on the collation of the store mix. Renato Semerari will plan to close its brand poor stores in Shanghai and Tokyo, and open new flagship stores in Houston and other cities in the United States. At that time, the brand did not disclose plans for restructuring such as layoffs.