Venezuelan search and rescue teams embarked on a third day of operations on Monday (January 7) as the search continues for Italian fashion executive Vittorio Missoni after his plane disappeared off the coast of Venezuela.

The small twin-engine plane carrying Missoni, his wife, another couple and two Venezuelan crew members went missing on Friday after taking off from a resort.

Italian media have suggested Missoni, his wife and their friends may have been kidnapped.

Missoni is the oldest son of the founders of the fashion house famous for its exuberantly colored knits, featuring bold stripes and zigzag patterns.

He is co-owner with siblings Luca and Angela, who handle the technical and design sides of the firm.

A Missoni spokeswoman said the decision about whether Missoni will go ahead with its Milan fashion show on Jan. 13 has yet to be made.

The fashion house posted sales of 70 million euros ($91 million) in 2011, making it one of Italy's smaller fashion houses.

Gianni Versace, for example, had revenue of 340 million euros in 2011, and Giorgio Armani had 1.8 billion euros. ($1 = 0.7666 euros).