Missoni

Missoni's new Flagship in Paris

With everyone’s Pucci Paper in the midst of being written, I feel that it is appropriate to talk about what is going on with the Italian Design House of Missoni.  At the end of last month, Missoni opened up their new Flagship store in Paris.  The space is on Rue Saint- Honore, is 2 floors and covers over 3200 square feet.  Angela Missoni designed this store differently than the rest.  It is more Parisian, inspired by French palaces and gardens, but also features unique details using wood, metal and fabric.  She wanted to mix technology and fashion.  But despite what should be a happy time for the business, it is rumored that the company is going through some tough times.
            Months back, the Missoni family was considering putting their company up for sale for a massive 1.13 billion dollars, which is a crazy evaluation.  The family created this number as they factored in how much it would be worth to them.  But selling Missoni would be more complicated than one would think because of all of the family involvement and shareholders.  Another source states that the 66.6 percent of the company belonging too Luca Missoni is what is for sale. 
            Angela Missoni has assured the public that she does not want to sell the company.  Their loss of top-level executives has been hard, but they are searching for a new chief executive officer to follow the exit of Alberto Piantoni, whose contract was done in December.  The company has also lost their executive vice president as well as their chief financial officer; this has caused many of the Missoni family members into these positions.  Despite all of the hardships the company has faced in the past few months, Angela Missoni is still adamant about keeping Missoni within their family and not selling.