Versace Big-Wigs Getting Along Just Fine

Although there had been some reports to the contrary, Versace’s board of directors has denied any sort of conflict between the CEO of the company, Giancarlo Di Risio, and the Creative Director Donatella Versace. The two had reportedly butted heads over cost-cutting measures.

According to a statement by the board of directors, “the board has always unanimously given priority to any actions taken to guarantee the patrimonial and financial stability of the company.” This would seem to suggest that if there was a conflict, the welfare of the company would have come first regardless of any other factors.

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Versace’s sales have fallen 13.4 percent, but the company blames the faltering sales on the state of Italian clothing maker Ittierre Spa, which has gone bankrupt. However, Versace’s board of directors has approved a three-year industrial plan that hopes to help the company fare better in the midst of the economic crisis.