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
TT

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.



Fashion Commission Launches 1st Executive Master’s Program in Riyadh

Fashion Commission Launches 1st Executive Master’s Program in Riyadh
TT

Fashion Commission Launches 1st Executive Master’s Program in Riyadh

Fashion Commission Launches 1st Executive Master’s Program in Riyadh

The Fashion Commission announced the launch of the first Executive Master’s program to be delivered in Riyadh, developed in collaboration with the world-renowned Institut Français de la Mode (IFM).

The new program marks a significant leap in advancing fashion education and executive training within the Kingdom, according to SPA.

The Executive Master’s in Strategic Management of Fashion & Luxury represents a new milestone in fashion education, taking place in Riyadh for the first time. It is a 15-month hybrid executive master’s degree track designed for high-potential professionals seeking advanced executive training while continuing their careers. Delivered through a blend of in-person modules in Riyadh and Paris, alongside supervised online learning, the program equips participants with strategic, managerial, and analytical expertise tailored to the rapidly evolving fashion and luxury sector.

Designed with market needs in mind, the executive master’s curriculum covers creation and design, brand strategies, sustainability, new consumer behaviors, retail innovation, fashion media, collection management, and future industry perspectives. Participants will also complete a thesis that contributes new knowledge to the regional and global fashion landscape.

The program is taught by IFM’s internationally recognized faculty, experts in fashion history, sustainability, consumer behavior, design, and luxury management, alongside industry leaders from major global houses, fashion federations, media groups, and innovation-driven organizations.

This landmark program builds on the Fashion Commission’s ongoing partnership with IFM since June 2022. Within the first year, the collaboration introduced high-level educational initiatives, including the Advanced Management Program for Luxury Fashion and the Executive Master’s in Luxury Fashion, designed to elevate local talent and strengthen the Kingdom’s creative workforce.

These programs have contributed to developing the skills and knowledge required to support a world-class fashion ecosystem.

The launch of the Executive Master’s marks a pivotal step in establishing Riyadh as an education hub for the fashion and luxury sectors. By bringing a master’s qualification of this caliber directly to the Kingdom, the Fashion Commission reinforces its commitment to enabling professional growth, supporting innovation, and creating globally competitive talent pipelines.


Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
TT

Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)

Nike shares rose 5% in early trading on Wednesday after Apple CEO Tim Cook doubled his personal stake in the sportswear maker, raising his bets on the margin-pinching turnaround efforts led by CEO Elliott Hill.

Cook, who has been on Nike's board since 2005, bought 50,000 shares at $58.97 ‌each, according to ‌a regulatory filing. As of December ‌22, ⁠he holds about ‌105,000 shares, which is now worth nearly $6 million.

It was the largest open market stock purchase for a Nike director or executive and possibly the largest in more than a decade, said Jonathan Komp, analyst at Baird Equity Research.

"(We see) Cook's move as a positive signal for the progress under CEO Elliott Hill and Nike's 'Win ⁠Now' actions," Komp said.

The purchase comes days after Nike reported weaker quarterly margins and weak ‌sales in China even as CEO ‍Hill tries to revive demand ‍through fresh marketing plans and innovation focused on running and sports, ‍while phasing out lagging lifestyle brands.

He has also attempted to mend Nike's ties with wholesalers such as Dicks Sporting Goods to increase visibility among shoppers amid stiff competition from newer brands.

However, the strategy has strained Nike's margins, which have been declining for over a year, while its efforts to win back its ⁠premier position in discount-friendly China appears to be faltering.

Nike's shares have slumped nearly 13% since it reported results on December 18 and are on track for the fourth straight year of declines. They were trading at $60.19 on Wednesday.

Cook has been a lead independent director of Nike since 2016 when co-founder Phil Knight stepped down as its chairman.

The Apple CEO "remains extremely close" with Knight, Komp said, adding that he has advised Nike through key strategic decisions including Hill's appointment last year.

Board director and former Intel CEO ‌Robert Swan also bought about 8,700 shares for about $500,000 this week.


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
TT

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.