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SpanishThe Italian fashion brand Krizia – owned by K Club’s Mariuccia Mandelli – has been sold to the Chinese group Shenzen Marisfrolg Fashion. Over the next five years, the Chinese company plans to open new Krizia outlets in China and to gradually reopen retail outlets in major cities in Europe, Japan and the US. At its peak in the Nineties, Mandelli and her husband, company chairman Aldo Pinto, had developed Krizia into a $500 million business, with a string of licenses and a global network of stores. The one-time power couple, now both in their 80s, have been battling health issues for many years. Krizia’s assets are said to include the Milan store, the lease to land for the hotel she abandoned on Barbuda, and the brand’s stately palazzo where the shows are held. Perhaps finally we will get this land back into productive use.
Krizia, one of Italy’s most influential and successful ready-to-wear fashion brands, has just found new ownership in China. After six decades, Krizia’s founder, Mariucca Mandelli, has sold her company to Chinese fashion retailer Shenzhen Marisfrolg Fashion Co. Ltd. The transaction is expected to be effective in late spring. Marisfrolg’s owner, the entrepreneur Zhu Chongyun, will become creative director and chairwoman of the company. Although Marisfrolg is based in Shenzhen, Krizia will continue to operate from Milan. The label’s first collection under new ownership will also be released there. Now in her 80s, the somewhat reclusive Mandelli said in an interview with Women’s Wear Daily that she was “delighted” to pass the torch, and that Zhu has “strength and talent and is willing to lead Krizia’s international growth. This is good for everyone.” A market source echoed Mandelli’s comments, characterizing Zhu as “a woman with a strong vision and an incredible capacity of understanding where fashion is going. Her style is feminine and flattering. She is the perfect one to give Krizia an international and modern flavor.” With both Mandelli and her husband and business partner, Aldo Pinto, aging and fighting health issues, the brand is ready for a new direction. Krizia hit its peak during the Nineties, when Mandelli and Pinto developed Krizia into a $500 million enterprise with global influence, with boutiques in the top shopping districts of cities like Paris, Venice, London, New York, and Hong Kong. In 2003, Krizia had 30 brand stores and 400 multibrand clients in Japan alone. Business has slowed since then, and the brand’s volume is “now believed to be miniscule,” with its “stately palazzo” for fashion shows and Milan store among its limited assets. It is only natural for the brand to find a successor to restore and boost Krizia to its former glory, which Marisfrolg seems poised to do. Read more at: http://red-luxury.com/fashion/chinese-retailer-buys-italys-krizia-ready-to-wear-brand | Red Luxury
Krizia, one of Italy’s most influential and successful ready-to-wear fashion brands, has just found new ownership in China. After six decades, Krizia’s founder, Mariucca Mandelli, has sold her company to Chinese fashion retailer Shenzhen Marisfrolg Fashion Co. Ltd. The transaction is expected to be effective in late spring. Marisfrolg’s owner, the entrepreneur Zhu Chongyun, will become creative director and chairwoman of the company. Although Marisfrolg is based in Shenzhen, Krizia will continue to operate from Milan. The label’s first collection under new ownership will also be released there. Now in her 80s, the somewhat reclusive Mandelli said in an interview with Women’s Wear Daily that she was “delighted” to pass the torch, and that Zhu has “strength and talent and is willing to lead Krizia’s international growth. This is good for everyone.” A market source echoed Mandelli’s comments, characterizing Zhu as “a woman with a strong vision and an incredible capacity of understanding where fashion is going. Her style is feminine and flattering. She is the perfect one to give Krizia an international and modern flavor.” With both Mandelli and her husband and business partner, Aldo Pinto, aging and fighting health issues, the brand is ready for a new direction. Krizia hit its peak during the Nineties, when Mandelli and Pinto developed Krizia into a $500 million enterprise with global influence, with boutiques in the top shopping districts of cities like Paris, Venice, London, New York, and Hong Kong. In 2003, Krizia had 30 brand stores and 400 multibrand clients in Japan alone. Business has slowed since then, and the brand’s volume is “now believed to be miniscule,” with its “stately palazzo” for fashion shows and Milan store among its limited assets. It is only natural for the brand to find a successor to restore and boost Krizia to its former glory, which Marisfrolg seems poised to do. Read more at: http://red-luxury.com/fashion/chinese-retailer-buys-italys-krizia-ready-to-wear-brand | Red Luxury
Krizia, one of Italy’s most influential and successful ready-to-wear fashion brands, has just found new ownership in China. After six decades, Krizia’s founder, Mariucca Mandelli, has sold her company to Chinese fashion retailer Shenzhen Marisfrolg Fashion Co. Ltd. The transaction is expected to be effective in late spring. Marisfrolg’s owner, the entrepreneur Zhu Chongyun, will become creative director and chairwoman of the company. Although Marisfrolg is based in Shenzhen, Krizia will continue to operate from Milan. The label’s first collection under new ownership will also be released there. Now in her 80s, the somewhat reclusive Mandelli said in an interview with Women’s Wear Daily that she was “delighted” to pass the torch, and that Zhu has “strength and talent and is willing to lead Krizia’s international growth. This is good for everyone.” A market source echoed Mandelli’s comments, characterizing Zhu as “a woman with a strong vision and an incredible capacity of understanding where fashion is going. Her style is feminine and flattering. She is the perfect one to give Krizia an international and modern flavor.” With both Mandelli and her husband and business partner, Aldo Pinto, aging and fighting health issues, the brand is ready for a new direction. Krizia hit its peak during the Nineties, when Mandelli and Pinto developed Krizia into a $500 million enterprise with global influence, with boutiques in the top shopping districts of cities like Paris, Venice, London, New York, and Hong Kong. In 2003, Krizia had 30 brand stores and 400 multibrand clients in Japan alone. Business has slowed since then, and the brand’s volume is “now believed to be miniscule,” with its “stately palazzo” for fashion shows and Milan store among its limited assets. It is only natural for the brand to find a successor to restore and boost Krizia to its former glory, which Marisfrolg seems poised to do. Read more at: http://red-luxury.com/fashion/chinese-retailer-buys-italys-krizia-ready-to-wear-brand | Red Luxury
Krizia, one of Italy’s most influential and successful ready-to-wear fashion brands, has just found new ownership in China. After six decades, Krizia’s founder, Mariucca Mandelli, has sold her company to Chinese fashion retailer Shenzhen Marisfrolg Fashion Co. Ltd. The transaction is expected to be effective in late spring. Marisfrolg’s owner, the entrepreneur Zhu Chongyun, will become creative director and chairwoman of the company. Although Marisfrolg is based in Shenzhen, Krizia will continue to operate from Milan. The label’s first collection under new ownership will also be released there. Now in her 80s, the somewhat reclusive Mandelli said in an interview with Women’s Wear Daily that she was “delighted” to pass the torch, and that Zhu has “strength and talent and is willing to lead Krizia’s international growth. This is good for everyone.” A market source echoed Mandelli’s comments, characterizing Zhu as “a woman with a strong vision and an incredible capacity of understanding where fashion is going. Her style is feminine and flattering. She is the perfect one to give Krizia an international and modern flavor.” With both Mandelli and her husband and business partner, Aldo Pinto, aging and fighting health issues, the brand is ready for a new direction. Krizia hit its peak during the Nineties, when Mandelli and Pinto developed Krizia into a $500 million enterprise with global influence, with boutiques in the top shopping districts of cities like Paris, Venice, London, New York, and Hong Kong. In 2003, Krizia had 30 brand stores and 400 multibrand clients in Japan alone. Business has slowed since then, and the brand’s volume is “now believed to be miniscule,” with its “stately palazzo” for fashion shows and Milan store among its limited assets. It is only natural for the brand to find a successor to restore and boost Krizia to its former glory, which Marisfrolg seems poised to do. Read more at: http://red-luxury.com/fashion/chinese-retailer-buys-italys-krizia-ready-to-wear-brand | Red Luxury
