Soprani to get new Board of Directors and licenses

The decision has been taken to merge the Satinine perfume distribution company and the Soprani fashion house. The name will be changed from Studio Soprani to Luciano Soprani Srl.

The Board of Directors will also change: Francesco Ghisleri, Chairman of Satinine and Director of Studio Soprani will be replaced by daughter Margherita as Chairwoman and head of marketing for the fashion house. The other members are Mario Usellini, vice Chairman and Managing Director, Silvio Usellini, Export Managing Director of the perfumes division, Sergio Melis, Production Managing Director of the perfumes division, and two Directors, Luigi Ghisleri and Vittorio Petrone.

'During 2005', Mario Usellini explained to Milano Finanza Fashion, 'Soprani continued to grow and will close the year with a profit. The retail value of the products sold will reach 49.3 million euros. The budget for 2006 envisages 26% growth with a retail value of 62 million euros', 48% from clothing, which has returned to being the company's core business.

The perfumes business represents 29.4% of turnover and accessories 22.5%. The increase in income, mostly derived from royalties, will also come from new licenses: two agreements are imminent for men's underwear and knitwear. During 2006, however, the possibility of eyewear and watches licenses will be examined.

(Source: Milano Finanza Fashion)