Italian down jacket brand Duvetica is facing down times as it has recently advanced a request for arrangement with creditors to the Tribunal of Venice and Treviso respectively for its Duvetica Industrie Spa and Duvetica Retail Srl companies.
The brand, founded in 2004 by entrepreneurs Giampiero Vagliano and Stefano Rovoletto (formerly working for Moncler), became known internationally and reached peak sales of €35 million in 2013 which dropped to €20 million in 2015. It had also opened monobrand stores – one each in Milan, Tokyo, Courmayeur, Kitzbuhel, Sylt, Gstaad, Crans Montana and Venice (now closed)–some of which were designed by architect Tadao Ando, plus two showrooms - in Tokyo and Milan.
Duvetica Industrie employs about 20 people and seems not to have produced or delivered any of its fall/winter 2017-18 collection yet.
Both Tribunals will give their response about whether they will accept the brand’s request by September 2017.