Milan based fashion group IT Holding, owners of Gianfranco Ferre, is to produce and distribute Galliano menswear and womenswear lines despite being in special administration. Sister unit Ittierre will distribute the labels leather goods along side brands Just Cavalli, Versace Jeans Couture Versace and C’n’C Costume National.
The distributor has signed a five year deal, starting with Galliano A/W09, therefore ending with the A/W14 collection.
Reports say that the company is looking for ways out of special administration, raising funds through any way possible. However, my previous post on Italian houses and labels (thus producers and distributors) bucking the trend during this recession by producing small, but crucial profits shows there is always an exception to the rule.