Trussardi, the famous Italian accessible luxury brand, is currently grappling with major obstacles as it attempts to reverse its declining fortunes. After being acquired by asset management company QuattroR in 2019, which holds a 60% stake in the brand, Trussardi has experienced a further deterioration in its situation in recent weeks. Plagued by substantial debt, the brand has been compelled to initiate a safeguard procedure with the aim of preserving its operational capacity. This procedure allows financially troubled companies to bring in external experts who can restore the company’s stability and negotiate debt restructuring with creditors.
Reliable sources within the industry estimate that Trussardi’s debt exceeds 50 million euros. To facilitate the restructuring process, the Bergamo-based consultancy firm, 3X Capital, has been enlisted to oversee the brand. In the wake of the financial turmoil, the board of directors and CEO Sébastien Suhl have tendered their resignations, and the company has undergone workforce reductions. Additionally, Trussardi is contemplating the closure of several boutiques as part of its efforts to streamline and reorganize operations.
However, amidst these challenges, Trussardi’s artistic direction remains intact, although a reevaluation of its creative process may be necessary. The appointment of Serhat Isik and Benjamin A. Huseby, the creative duo behind Berlin-based independent label GmbH, as the heads of Trussardi’s creative team in 2021 injected new life into the brand. Their initial showcases in Milan drew considerable attention and revitalized Trussardi’s image. However, this season, the brand opted for a presentation format rather than a traditional runway show.
In November of the previous year, Trussardi unveiled its renovated headquarters in Milan, located near the prestigious La Scala opera house. Spanning across 2,500 square meters and encompassing seven floors, this expansive building now houses Trussardi’s headquarters, showroom, flagship store, restaurant, and café. The transformation of this historic space reflects the brand’s dedication to reclaiming its position in the fashion industry.
Trussardi, established by the Trussardi family in 1911, had been grappling with difficulties for several years even before its acquisition by QuattroR. The COVID-19 pandemic further compounded the brand’s challenges, and it has struggled to recover ever since. Recent logistical hurdles in distribution and production have worsened the company’s already precarious situation, especially in the face of heightened competition and the adverse economic climate.
Currently, both Trussardi and its owner, QuattroR, have refrained from making public statements regarding the brand’s restructuring. Nevertheless, it is evident that significant efforts are underway to restore Trussardi’s profitability and ensure its long-term viability within the fashion market.
Useful links:
1. Trussardi Official Website
2. QuattroR Official Website
