The appointment follows a transaction in March that saw Milan-based private equity firm Clessidra SGR acquire a 70 percent stake in Buccellati Group for 80 million euros, or $102.6 million at the exchange rate at that time. The deal was signed between Clessidra and the Buccellati family, who retain a minority stake, along with Italian merchant bank Simest SpA.
A veteran of the fashion industry, Andretta stepped down from Lanvin in April after a four-year stint, and Michèle Huiban succeeded him.
Andretta, 56, is keen to capitalize on Buccellati’s rich history, stretching back some 263 years, and its artisanal yet nimble production ability in high jewelry, which accounts for the lion’s share of revenues. Known for its signature gold and precious-stone ranges, the company introduced a silver collection two years ago.
Watches made in Chiasso, Switzerland, and tableware, particularly luxury flatware, are seen as future expansion paths for the firm, which recently unveiled its first store in Chicago.
Buccellati counts 15 freestanding stores worldwide, and collections continue to be designed by president and creative director Andrea Buccellati.
An Italian national, Andretta has also been ceo of Moschino in Milan and has worked in senior management positions at Replay, Belfe, Gucci Group, Céline and Emanuel Ungaro.
Commenting on the appointment, Clessidra president and ceo Claudio Sposito said Andretta would “boost the relaunching of the Buccellati brand onto the international markets.”
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion