Gucci’s CEO charts new direction, Barneys still CEO-less, Small luxury takes a hit, Samsonite’s lifeline

New Gucci store concept, courtesy of Gucci

New Gucci store concept, courtesy of Gucci

Gucci Renews GG-Logo Purses Priced Below $3,000 Under New Chief (Bloomberg)
As reported late last year on BoF, “Gucci’s new chief executive officer, Patrizio di Marco, said he’s fighting the recession by cutting production, making fewer styles to reduce costs, and bulking up the luxury label’s mid-priced range.”

Lengthy Search for New CEO Dogs Barneys (WSJ)
“Barneys has spent more than a year without filling its top slot, an unusually long time for a CEO hire and one of the longest-running hunts for a new chief executive now going on anywhere.”

Tough Times for Small Luxury Goods Makers (Business Week)
“Bankruptcies are hitting small and midsize European companies that supply luxury houses with everything from hand-tooled leather to perfume bottles.”

Samsonite joins list of debt-for-equity groups (FT)
“Samsonite, the world’s biggest maker of suitcases, backpacks and carry-bags, is the latest to join the fast-growing list of private equity-owned companies that have run into trouble and needed to be saved by swapping debt for equity.”