What is going on at Trussardi?

UPDATE 12/03/2024: Today, the Miroglio Group has completed the acquisition of Trussardi from QuattroR Fund as part of a broader restructuring process initiated by Trussardi itself, aimed at enhancing the brand and ensuring its continuity in the sector. Starting today, Trussardi will become an integral part of the Miroglio Group as an independent brand, maintaining its headquarters in Milan. The operation also includes a network of 15 retail outlets spread across Italy, along with the historical archive and licensing rights, expanding the brand's influence across various sectors including furnishings and perfumery. The Miroglio Group's strategy focuses on enhancing the brand with the idea of reviving a comprehensive lifestyle brand that regains its place in the Olympus of Milanese fashion, but it is still unclear whether the brand will return to fashion week programming or not. According to announcements by the new owners, Miroglio plans to adopt a growth strategy through various channels, with a particular focus on key markets in Italy, Eastern Europe, and the Middle East, where the brand enjoys a solid reputation. Alberto Racca, CEO of the Miroglio Group, stated: "We intend to preserve the elegance and versatility that have always distinguished Trussardi in all its forms, while looking ahead to the stylistic future and the values of our contemporary customers. This acquisition also allows us to strategically expand our presence in the men's and leather goods sectors, enriching and further diversifying our portfolio".

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«Ain’t no rest for the wicked» once 2sang the Cage The Elephant, and there seems to be no rest for Trussardi either, which in recent weeks has seen the resignation of its entire board of directors and has reportedly begun a recomposition procedure that will see an outside expert step in to restructure the composition of its debts. According to reports, the company's debt is expected to be 50 million euros, with revenues reduced to 80 million euros. Consulting firm 3X Capital has been called in to turn the situation around, which has revised revenues downward and is trying to return the company to profitability. Meanwhile, employees have been laid off and several stores may close for good.

The straw that broke the camel's back, according to several sources, was the non-payment of a distribution partner that halted the delivery of goods, allegedly creating a ripple effect that did not help the already heavily indebted brand. Nothing is said, however, about a change in creative direction, which is instead expected to remain the same-although frankly the situation remains doubtful a bit for everyone. Which is a shame because, for the last FW23 collection, the two creative directors, Serhat Işık and Benjamin A. Huseby, had produced a very credible and convincing collection. The options at this point seem to be only three: if Trussardi survives the storm, it will do so as a more downsized and smaller brand; if it cannot survive, it can hope that a new entrepreneur will relaunch it or, if it fails to clear its debt, it will have to declare bankruptcy.