![]() ![]() In addition, Scaglia and Barbieri noted that under Haart’s leadership, the Elite Model Look contest, a key element for brand awareness, has “completely lost its relevance” and “failed to produce a fresh pipeline of talents.” ![]() The digital division represented only 5 percent of the group’s revenues in 2021.Īlso, it alleged that the E1972 fashion brand initiative launched by Haart “failed to produce any result at all,” while generating costs of around $5 million a year. The letter alleges that despite the cost of almost $50 million, Haart’s main targets that led to her appointment were not met, including a digital expansion and securing external investments.ĭigital revenues were nil in 2019, rose to $1.6 million in 2020 compared with a budget of $17.9 million and to $8.8 million in 2021 versus a $16.5 million budget, “never reaching the break-even, despite an exceptionally positive trend in digital marketing expenses fueled by the pandemic crisis,” states the letter. The losses were attributed to Haart’s office’s “huge increase in corporate costs and expenses which have completely wiped out the solid results produced by the traditional business, without producing any appreciable results.” A large portion of the costs “were representation and entertainment expenses almost entirely attributable to the CEO” and “never authorized by the board and well beyond budget.” Madison Bailey Brings Edgy Y2K Style in Ribbed Top and Distressed Denim to Diesel's Fall 2023 Collection Launch at Fwrd's Pop-up Store ![]()
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