Missoni mogul missing in Venezuela
Vittorio Missoni, business head of Italy’s Missoni fashion dynasty, has disappeared in a light aircraft off the coast of Venezuela, along with his wife and two friends, according to the Italian fashion group.
Mr Missoni (58), who with his siblings is credited with reviving the fortunes of the Milan-based fashion label founded by his parents in the 1950s, was reported missing late on Friday, and a search continued over the weekend.
“Missoni confirms that Vittorio Missoni and his partner have been lost in Venezuela. The small aeroplane in which they were travelling has disappeared. This is the only information available at present,” the company said yesterday.
As chief executive of Missoni SpA, he has expanded the Italian brand’s retail network and was behind the successful venture with US retail group Target in 2011 that boosted the Italian group’s global profile.
Ottavio and Rosita Missoni, the parents of Mr Missoni, created the company in the 1950s and turned it into one of Italy’s best-known fashion brands.
After the brand’s image flagged in the 1980s, their children – Vittorio, Angela and Luca – took over the company in the 1990s and are credited with restoring its profile through licensing deals. Mr Missoni has also expanded the retail network, opening stores in China and south Asia. – (Copyright the Financial Times Limited 2013)