Giancarlo di Risio has been the Chief Executive of the famous Versace brand since 2004. He is now expected to resign at a board meeting tomorrow.Versace has been able to remain afloat in the recent economic crisis despite its price tag. The company hired an outside consultant this year to help it devise a new management plan for weathering the economic crisis. The company said last month that first-quarter revenue had fallen 13 percent from a year earlier, though it still had managed “a positive net result.” It hired Bain & Company, a consulting company, to draw up a three-year business plan for the changed economic environment, and the board adopted the plan last month.

Now we shall see who the new management shall be for Versace.