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.
“I grew up in New York but I hadn’t really experienced the city in any type of touristy way…This was probably the first museum I really explored and took the time to see,” said @haileybaldwin of the @whitneymuseum. On Tuesday night, Baldwin was joined by Jemima Kirke and more at the annual Whitney Museum Gala and Studio Party, which honored Lorna Simpson, Joanne Leonhardt Cassullo and Beth Rudin DeWoody. See more photos on WWD.com. #wwdeye (📷: @lexieblacklock)
Displayed starting this week at the @fashiontextilemuseum: An exhibition on designer @orlakiely titled “Orla Kiely: A Life in Pattern,” which spans two decades and contains more than 150 pieces. “I want people to come away loving pattern and print. It’s something that makes you feel so good,” said the designer during a preview of the exhibit. Also on show are mood boards, samples, sketches and more. Head to WWD.com to see more photos. #wwdfashion
Exclusive: @dsquared2 signs fragrance licensing agreement with Euroitalia, with the first effort of the new partnership being unveiled in September. The brand will launch two scents – one for men and one for women – in Italy. Read our interview with designer Dean and Dan Caten on WWD.com. #wwdbeauty #wwdnews (📷: @zefashioninsider)
@louisvuitton has officially renewed Nicolas Ghesquière’s contract as artistic director of women's collections. "I am very pleased to open the next chapter of the story I started with Louis Vuitton almost 5 years ago," said Ghesquière, who first signed on to design the French luxury brand's women's line in 2013. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @giovanni_giannoni_photo)
“I learned then and there that I had to figure out a way in life to maintain and preserve my sense of pride when I felt good about what I did or what I represented or created,” said @saintrecords on how being bullied for wearing capri pants inspired her to be the artist she is today. Knowles was at the 70th Parsons Benefit last night where she outbid the room for a Dapper Dan customized @gucci experience. #wwdeye (📷: @lexieblacklock)
“There’s this amazing braintrust of people who know the whole universe so well. So we talked to them and they gave us more input,” said actor Alden Ehrenreich on playing the young Han Solo in “Solo: A Star Wars Story.” The cast was at NYC’s SVA Theatre last night for an advanced screening of the film, which hits theaters this week. #wwdeye #starwars #hansolo (📷: @aurorarosedecrosta)
@asaprocky spent nearly two hours in a Plexiglas box Sunday night at @sothebys putting himself through a series of “tests” to demonstrate the process of completing his new album called “Testing.” Get all the details and see all the pictures on WWD.com. #wwdeye
“I’ve struggled my whole life to find a bathing suit that fits me that doesn’t look like a maternity bra. I’m proud of the line because it’s an accurate representation of me rather than me putting on someone else’s clothes,” says @atlantabean of her swimwear collaboration with @piaarrobio, LPA X ATL. The two decided on a swimwear collab and increased the industry standard size for the pieces. Read more about the line — and our interview with de Cadenet Taylor and Arrobio — on WWD.com #wwdfashion (📷: Dan Doperalski)