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Luigino Rossi is a candid man.
In a recent interview at his company's headquarters in Vigonza, Italy, the president and CEO of Rossimoda voiced his discontent with the status quo in the industry today - fashion shows and marketing campaigns showcasing product that rarely makes it onto the racks, and the pressure on suppliers to deliver collections with, quite simply, not enough time.
But despite the industry's challenges, Rossi's standards remain high, as befits an entrepreneur used to working with the finest talents in fashion, such as Yves Saint Laurent, a designer for whom he has a special regard.
Today, Rossimoda produces footwear for LVMH - which took a 97 percent stake in the company in 2003 - under licensing agreements with Emilio Pucci, Givenchy, Christian Lacroix, Donna Karan, Marc by Marc Jacobs, Kenzo and Celine. Last year, the company reported sales of 60.1 million euros, or $77.9 million at current exchange rates, with 20 percent annual revenue growth. It employs nearly 800 workers around the world, and produces half a million pairs of shoes each year.
But despite the company's success, at 70 years old, Rossi is mulling the idea of retirement. He has been asked to extend his tenure at least until 2008 and to help find a successor. No simple task, given Rossi's experience, which dates back to 1956, when he helped start his family's Fratelli Rossi business.
A visit to the Rossimoda footwear museum in Str, Italy, which stocks some of the famous collections the company has produced over the years, is a testament to Rossi's vast legacy. The 16th century Palladian Villa Foscarini-Rossi boasts a stunning selection of 1,500 shoes, including styles by Yves Saint Laurent,...