Italian Fashion Pioneer Nino Cerruti Dies

Italian designer Nino Cerruti was one of the leading figures in 20th century men's ready-to-wear fashion Ralph GATTI AFP/File
Italian designer Nino Cerruti was one of the leading figures in 20th century men's ready-to-wear fashion Ralph GATTI AFP/File
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Italian Fashion Pioneer Nino Cerruti Dies

Italian designer Nino Cerruti was one of the leading figures in 20th century men's ready-to-wear fashion Ralph GATTI AFP/File
Italian designer Nino Cerruti was one of the leading figures in 20th century men's ready-to-wear fashion Ralph GATTI AFP/File

Pioneering Italian fashion designer Nino Cerruti, who introduced "casual chic" into men's fashion and in his heyday dressed Hollywood stars, has died at the age of 91.

He died at the Vercelli hospital in the northwest region of Piedmont, where he had been admitted for a hip operation, the Italian daily Corriere della Sera reported on its website.

"A giant among Italian entrepreneurs has left us," AFP quoted deputy minister for economic development Gilberto Pichetto as saying.

Cerruti, who created the first deconstructed jacket in the 1970s, was one of the leading figures in men's ready-to-wear fashion in the 20th century, with a look that was at once stylish and relaxed.

"I want men more free in their elegance, more elegant in their freedom," he once said.

Tall and slim, Cerruti always insisted on being the first to try on his creations, many of which he kept stored away at the woollen mill his grandfather founded in the northern town of Biella in 1881.

"I have always dressed the same person -- myself," he once said.

- 'Italy's chicest man' -

Born in 1930 in Biella, Cerruti dreamt of becoming a journalist.

But after his father died when he was 20, he was forced to give up his philosophy studies to take over the family textile factory.

In the 1960s, he met Giorgio Armani and hired him as a creator of men's fashion.

The duo made a profound mark on the world of fashion, before Armani branched out with his own fashion house in 1975.

On Saturday, Carlo Capasa, head of the National Chamber of Italian Fashion, mourned the passing of "Italy's chicest man".

He called the designer, often seen at his fashion shows in his signature yellow jumper, "a great innovator, a visionary creative and a forerunner of many realities today" in fashion.

"He leaves behind a great legacy: the courage to invest and believe in youth. He was the one who believed in a very young Giorgio Armani."

Armani himself told Corriere della Sera of his great sadness at the news. "Nino had a piercing gaze, a true curiousity, a capacity to dare," he said.

Cerruti opened his first shop in Paris in 1967, launching his luxury brand on the path to global fame.

"Clothes only exist from the moment someone puts them on. I would like these clothes to continue to live, to soak up life," he said.

- 'Philosopher of clothing' -

As French students rose up in revolt in May 1968, he revolutionized fashion by asking male and female models to walk down the catwalk in the same clothes.

"Trousers have given women freedom," he said.

He created his first line of women's clothing in the 1970s, a branch of the business that two decades later would account for a fifth of its revenue.

He then moved into perfumes, watches, shoes and jewelry.

The man nicknamed the "philosopher of clothing" dressed American actors Richard Gere and Robert Redford as well as French star Jean-Paul Belmondo.

He also made cameo appearances in Hollywood films "Cannes Man" (1996) and "Holy Man" (1998).

In the 1990s, his fashion house was asked to be the official designer of the Ferrari Formula 1 team.

Struggling to keep up with the highly competitive world of luxury fashion as an independent business, he sold his label "Cerruti 1881" to Italian investors in 2001. It was then taken over by a US investment fund, and then by the Chinese group Trinity.

After the sale, he returned to the family home in Biella.



Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
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Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters

The founding family of Italian fashion house Etro has sold the minority stake it still owned in the brand to a group of investors including Turkish group RAMS Global, the company said on Friday.

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner and "will continue to actively support the brand's long-term growth strategy," Etro added, according to Reuters.

The new investors comprise also Italian fashion group Swinger International and small private equity firm ⁠RSI.

In addition to buying the stake, they all subscribed to a capital increase that will lower L Catterton's holding in Etro to between 51% and 55% from around 65%.

When including both the acquisition and the capital increase, the deal is worth around 70 ⁠million euros ($82 million), two sources close to the matter said. Etro did not disclose financial details.

Chief Executive Fabrizio Cardinali will remain at the helm, while Faruk Bülbül, representing RAMS Global, will become chairman of the board.

L Catterton bought a 60% stake in the brand known for its paisley motif four years ago, and it slightly increased the holding over the years.

The company, founded by Gimmo Etro in 1968, has ⁠been struggling with its turnaround. Last year it posted a net loss of 23 million euros with net revenues declining to 245 million euros from 261 million euros, according to filings with the local chambers of commerce reviewed by Reuters.

Rothschild advised L Catterton and the Etro family on the deal.

Rothschild had been hired in 2024 to look for a new investor who could buy all or part of the Etro fashion group, sources had previously told Reuters.


Paris Court Rejects Bid to Suspend Shein Platform in France

A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
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Paris Court Rejects Bid to Suspend Shein Platform in France

A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo

A Paris court on Friday rejected a government request to suspend Chinese fast-fashion platform Shein in France after authorities found illegal weapons and child-like sex dolls for sale on the fast-fashion giant’s website.

Shein welcomed the decision, saying it remains committed to strengthening its control processes in cooperation with French authorities.

“Our priority remains protecting French consumers and ensuring compliance with local laws and regulations," the company said in an emailed statement to The Associated Press.

The controversy dates to early November, when France’s consumer watchdog and Finance Ministry moved toward suspending Shein’s online marketplace after authorities said they had found childlike sex dolls and prohibited “Class A” weapons listed for sale, even as the company opened its first permanent store in Paris.

French authorities gave Shein hours to remove the items. The company responded by banning the products and largely shutting down third-party marketplace listings in France.

French officials have also asked the European Commission to examine how illegal products were able to appear on the platform under EU rules governing large online intermediaries.


Lululemon Jumps on Elliott's $1 Billion Bet Ahead of Leadership Change

FILE PHOTO: A logo is displayed inside a Lululemon outlet retail store at Bicester Village in Oxfordshire, Britain, August 21, 2024. REUTERS/Hollie Adams/File Photo
FILE PHOTO: A logo is displayed inside a Lululemon outlet retail store at Bicester Village in Oxfordshire, Britain, August 21, 2024. REUTERS/Hollie Adams/File Photo
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Lululemon Jumps on Elliott's $1 Billion Bet Ahead of Leadership Change

FILE PHOTO: A logo is displayed inside a Lululemon outlet retail store at Bicester Village in Oxfordshire, Britain, August 21, 2024. REUTERS/Hollie Adams/File Photo
FILE PHOTO: A logo is displayed inside a Lululemon outlet retail store at Bicester Village in Oxfordshire, Britain, August 21, 2024. REUTERS/Hollie Adams/File Photo

Lululemon Athletica shares rose nearly 8% in early trading on Thursday after reports Elliott Management has built a $1 billion stake in the athleisure wear maker and is working with former Ralph Lauren executive Jane Nielsen for a potential CEO role.

The Canada-based retailer said last week that Calvin McDonald will step down after nearly seven years as its top boss, sparking hopes for a leader who can reverse slowing growth and win back younger shoppers amid fierce competition from trendier players like Alo and Vuori. The stock has lost nearly half of its value this year, underscoring investor concerns over Lululemon's struggles. The company's shares were trading at $224 on Thursday.

"Elliott is famous for agitating for change. These positions aren't built overnight, so Lululemon's board probably saw this coming," said Brian Jacobsen, chief economic strategist, Annex Wealth Management.

The activist investor has been working closely for months with Nielsen, a retail veteran, a source told Reuters on Wednesday. Nielsen, who sits on the board of Cadbury parent Mondelez, has also served as finance chief at Tapestry-owned Coach.

"Lululemon is one of the most powerful brands in retail, defined by exceptional products, deeply engaged communities and significant global potential," Nielsen said in a statement to the Wall Street Journal. "I would welcome the chance to discuss this opportunity with the Lululemon board."

Elliott, Lululemon and Nielsen did not respond to Reuters requests for comment.

Analysts have said the company will need to upgrade its fabrics, use fresher designs and accelerate product launches that click with Gen Z to reclaim its "cool factor" and lure shoppers back.

With much of its sourcing tied to Asian factories facing higher import duties, Lululemon will also need to streamline its supply chain to blunt US tariff pressures and protect margins next year, analysts have said.

"Lululemon should implement fast fashions and introduce an assortment that will pull customers from Alo and Vuori - especially Gen Z customers.

Fast fashion requires a much better supply chain than is currently in use at Lululemon," said Brittain Ladd, a strategy and supply chain consultant at Florida-based Chang Robotics.

The brand's struggles have drawn sharp criticism from founder and largest individual shareholder Chip Wilson. He has also called for an urgent CEO search, led by new, independent directors with deep company knowledge to restore a product-first focus.

Wilson did not respond to a Reuters request for comment.

With a 4.3% ownership, Wilson's stake is valued at about $988 million, according to LSEG data, making Elliott one of the top shareholders in Lululemon, which is valued at nearly $25 billion.

Lululemon trades at a forward price-to-earnings ratio of 16.37, while Gap trades at 11.88 and American Eagle at 16.81, according to LSEG data.