PARIS — Lanvin has tapped ex-Moschino chief executive officer Thierry Andretta as executive vice president.
This story first appeared in the January 23, 2009 issue of WWD. Subscribe Today.
WWD first reported Jan. 9 that Andretta was a candidate to succeed Paul Deneve at the fast-growing French house.
Deneve, whose title was deputy general manager, exited Lanvin at the end of last year, with the company citing “diverging points of view” on the direction of the fashion house, which is controlled by Taiwanese publishing magnate Shaw-Lan Wang. It is understood that Asian expansion and lack of expansion capital were among contentious issues.
Andretta, who has also held senior management posts at Gucci Group and LVMH Moët Hennessy Louis Vuitton, left Moschino at the end of 2008 after two years in charge.
In 2007, consolidated sales at Moschino grew 9 percent to 136.9 million euros, or $187.7 million, accounting for 46.7 percent of parent Aeffe’s total revenues. Sales slowed marginally in the first nine months of 2008, growing 8.1 percent to 114.2 million euros, or $173.9 million, or 47.6 percent of Aeffe’s overall turnover. Dollar figures are converted at average exchange rates for the periods to which they refer.
Deneve joined Lanvin in 2006 and saw rapid growth for the Paris firm, propelled by designer Alber Elbaz’s designs, and an improving financial picture. In an interview last October, Deneve said Lanvin was on track to become a $200 million fashion house in 2008, with growth forecast at 30 percent last year.
The gains reflect a retooling of the supply chain, strides in leather goods and a rejuvenated men’s wear business.
Lanvin posted 2007 revenues of 108.6 million euros, or $148.9 million, not including royalty income of 3.7 million euros, or $5.1 million.