Former Gucci America Executive Matteo Mascazzini Tapped as New Geox CEO
Following the release of Geox year-end sales, which fell 1.8 percent to 884.3 million euros, and despite the confidence of president Mario Moretti Polegato, shares were down 6.1 percent to 2.68 euros in mid-day trading on the Milan Stock Exchange on Friday.
MILAN - Former Gucci America chief operating officer Matteo Mascazzini is expected to take on the chief executive officer role at Geox SpA – a position to be made official during a board meeting that will be held on Feb. 1. He will succeed Gregorio Borgo, who is leaving the Italian footwear company after only one year.Mascazzini has 20 years of experience in fashion. For 10 years, he held several positions within Gucci, including associate president of Gucci Europe, Middle East and India, and president and ceo of Gucci Japan, among others.From 2003 to 2007, he was chief operating officer and chief financial officer at Giorgio Armani in America and Japan. Before that, he was group controller for the Gianni Versace group.Geox president Mario Moretti Polegato underscored Mascazzini’s experience and said he was “certain” the executive will “boost the growth of the group and align marketing, communication, brand and product strategy with commercial distribution to allow Geox to reach important results in terms of growth and profitability in the near future.”Following the release of Geox year-end sales, which fell 1.8 percent to 884.3 million euros, and despite Moretti Polegato’s confidence in the efforts made last year aimed at operative efficiency, cost-control and investments in markets with growth potential, shares were down 6.1 percent to 2.68 euros in mid-day trading on the Milan Stock Exchange on Friday.Last year, Russia, Eastern Europe and China helped lift the performance of the group, which in 2017 rationalized its network of stores. At the end of December, the number of Geox shops totaled 1,095, of which 439 were directly operated. In 2017, 70 new stores were opened and 136 were closed as part of the group’s strategy to streamline its units. Directly operated stores accounted for 41 percent of the group’s sales.In 2017, the company introduced a new store concept. Designed to offer a sustainable take on interior design, which is reflected in the use of natural materials such as wood, terracotta tiles and carpets crafted from up-cycled fishnets, the concept highlights the sense of breathability that characterizes the brand’s footwear offering. In particular, the main door features the perforated details that appear on the soles of the shoes. In order to find an always better balance between style and innovation, Geox also tapped footwear designer Ernesto Esposito, who previously worked at Salvatore Ferragamo and Sergio Rossi, to launch a women’s capsule collection for the fall 2017 season.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
Stay up to do date with breaking news and trending stories with WWD’s “The Essentialist.” Our newsletter delivers the top news in fashion right to your inbox. Want more info? Link in bio. #wwdfashion (📷: @kukukuba)
"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.