Etro presents a summer 2024 collection inspired by the dreamy atmosphere of an Italian vacation, shot in the fascinating, stylish and rambling atmosphere of Villa Elia, in the heart of Puglia.

Models Claudio Goncalves, Lena Werner and Nathali Fried are styled by Francesca Parise in images by Raffaele Cerulo [IG]. Creative direction by Etro designer Marco de Vincenzo

Good Model Talent Untapped

There’s zero magic or human chemistry in this campaign or these images. My only interest in the campaign exists to check in on how Etro is doing.

Etro has some of the richest global tapestry, humanity DNA in the fashion industry. It’s not about a bunch of snotty, obnoxious, selfpabsorbed rich kids with too much leisure time.

Fried is quite new, but Goncalves [IG] and Werner deliver very well in other work on their individual IGS. AOC has shared four posts with Werner in the last six months and Goncalves comes to life with another group shoot in South Africa recently.

One similar image of Claudio with another woman emotes a beautiful, rich — but not smiling — humanism of a nonromantic nature in the South Africa shoot. He comes to life on his IG, with significant campaigns for top houses. And he has kids in his world and nonprofit work with them.

Bad Vibes in Puglia

I don’t know who exactly is responsible for the mood and visual atmosphere of this campaign, but it lacks an ounce of aspirational DNA. The issue is not one of models who are not “giving”. The models are responding the best they can with the direction they are receiving from the conductor.

Anne literally went to review Etro financials after looking at these images. This brand has a superb platform on which to build a distinctive, revitalized identity.I do not see that identity coming into clear focus.

L Catterton Increases Etro Share

LVMH-backed investment firm L Catterton in late November 2023, responded to significant operating capital needs in the business. Yesterday L Catterton injected another 1.73 million euros into Etro, on top of the additional 15 million euro capital boost implemented last November.

L Catterton clearly remains bullish on Etro, and the brand is operating profitably with EBITDA climbing to 9 million euros. But the terms of these new capital infusions by L Catterton are requiring the Etro family to become nonparticipants in stock issues, effectively diluting their minority stake, which was originally 40 percent.