Ferre's Death; Ramifications for IT Holding

The sudden death of Gianfranco Ferre saddened many in the fashion world. WWD has a long list of tributes from all the mainstays of Italian fashion and Tarnished Lady has some nice photos, including one of Julia Roberts in a Ferre dress. For IT Holding, the company which owned the Ferre brand and is listed on the Milan Bourse, sadness must quickly be replaced by practicality. There's a Ferre men's wear show scheduled for Sunday, and executives must be asking themselves if it should go on as a tribute or be cancelled as a sign of respect. I suspect they will opt for the former, after all it is be the last collection he designed. Such a shame it's men's wear when he was so much better known for his women's wear. But they've also got to act quickly to name a replacement. The stock of the company had dropped 2.69 percent on the Milan bourse by 11:30 am and Reuters had it listed on the Italian Stocks -- factors to watch list. There's little in the way of precedent here, I can't think of another public company to lose its designer so quickly, but I suspect the market will not react well. □