After speculating reports last month, it has been confirmed that president and CEO of Versace USA, Patrick Guadagno, has left the company. In a statement released Tuesday, Guadagno said, “My tenure at Versace has been a tremendous experience, and I am pleased with what we were able to accomplish. I wish the company continued success and growth in the U.S. and international markets, and I look forward to other challenges in the fashion industry.”
Those prospective challenges have yet to become known as Guadagno did not release any immediate plans to stay within the industry. Prior to joining Versace, Guadagno had been managing director of Dolce & Gabbana’s D&G label in America. Before that, he was president at IT Holding USA, D&G’s licensee. Guadagno is widely credited with initially building D&G in the U.S. and overseeing the transition of its marketing and sales from IT Holding to the label’s own showroom. Now that he has left the Versace USA office, Guadagno will seemingly also become known for making similar progress there. He was responsible for expanding the role of the Versace label in the New York market, reinstating relationships with both Avenue and Saks FifthBergdorf Goodman.
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But a sexual harassment suit filed by a former assistant, Fay Rodriguez, stirred up some controversy and negative attention for Guadagno last year. The case is still pending though it has not been confirmed to be tied to Guadagno's departure.
As part of a reorganization plan Versace unveiled last month, Michelle Sodi was announced as Guadagno's replacement as CEO of Versace USA. Sodi joined the company from Jil Sander America, where he served as president and worked with Versace CEO Gian Giacomo Ferraris.
Article and Phot Source: WWD