The Middlebury, Connecticut-based watchmaker announced on Wednesday that it has signed a strategic licensing agreement to produce timepieces for the American luxury brand owned by Authentic Brands Group since 2013.
Furla is reorganizing its management, confiding the role of president to current CEO Alberto Camerlengo, who will be replaced as chief executive by Mauro Sabatini, previously head of leather goods manufacturer Effeuno.
LVMH Group’s new bag manufacturing plant, ‘Fendi Factory,’ is set to open in 2022 in Bagno a Ripoli in the south of Florence, Italy. It will employ 380 people with an investment of close to €60 million ($71 million).
The U.S.-based subsidiary of the Italian luxury brand has filed for Chapter 11 bankruptcy due to the negative impact of the Covid-19 pandemic, which forced the company to temporarily close its stores in March.
Italian luxury brand Valentino, led by new CEO Jacopo Venturini since June, is making new strategic appointments, entrusting the Americas region to Laurent Bergamo, and the Middle East to Simone Bertolini.