Marni names new CEO
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Italian fashion major Marni has announced the appointment of Stefano Biondo to chief executive officer, effective 15 May 2018.
The OTB Group-owned luxury label poached Biondo from eyewear company Safilo, where he served as chief brand officer.
He succeeds Ubaldo Minelli, who was promoted to CEO of OTB in January. Biondo will report directly to Minelli.
In speaking with WWD, Minelli expressed his confidence in Biondo’s helming of the Marni brand, which has been under management reconstruction globally.
“Marni has a precise and recognisable identity with incredible potential for growth,” said Minelli.
“In recent years, we have built a solid foundation for the brand’s future and it is now on the launchpad for true development and success.”
One of the biggest turning points for the label was in 2016, when Marni appointed a new creative director, Francesco Risso, to replace Marni founder, Consuelo Castiglioni.
In 2017, Marni’s turnover exceeded 180 million euros, experiencing double-digit growth worldwide, especially in Asia.
It also highlighted a growth in accessories, specifically handbags, which soared on some 90% in certain markets. Millennial sales were also up, said OTB.
Marni is present in 54 countries with a wholesale channel of 470 stores and 70 mono-brand stores, with 22 boutiques operated with local partners. Most recently, Marni opened a flagship store in Florence, with several planned for China.
In 2017, the OTB group quadrupled its Earnings Before Interest and Tax (EBIT) to €21.5 million, despite suffering a 2.4 percent decline in group revenues
OTB controls Marni, Diesel, Maison Margiela, Viktor & Rolf, Paula Cademartori, Staff International and Brave Kid.
Questions & Answers
Q.What is Stefano Biondo's background before joining Marni as CEO?
What is Stefano Biondo's background before joining Marni as CEO?
Stefano Biondo previously worked at the eyewear company Safilo, where he held the position of chief brand officer. He has been poached from Safilo to take on his new role at Marni, effective 15 May 2018.
Q.Who was the previous CEO of Marni and what is their current role?
Who was the previous CEO of Marni and what is their current role?
Ubaldo Minelli was the previous CEO of Marni. He was promoted to chief executive officer of the OTB Group in January, to whom Stefano Biondo will now directly report.
Q.What were Marni's key financial and operational achievements in 2017?
What were Marni's key financial and operational achievements in 2017?
Marni's turnover exceeded 180 million euros in 2017, showing double-digit growth globally, particularly in Asia. Accessory sales, especially handbags, saw a 90% increase in some markets, and millennial sales were also up.
Q.How many stores does Marni operate globally and where is it planning new openings?
How many stores does Marni operate globally and where is it planning new openings?
Marni is present in 54 countries, with a wholesale channel of 470 stores and 70 mono-brand stores, 22 of which are operated with local partners. It recently opened a flagship in Florence and has several more planned for China.
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