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.”
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