By  on April 16, 2009

MILAN — C.P. Company has appointed former John Galliano men’s wear design chief Wallace Faulds as its new designer, WWD has learned.

The Scot, who was the creative force behind Galliano men’s wear for over three years, succeeds Alessandro Pungetti. Faulds, 30, will unveil his debut spring-summer 2010 collection for C.P. Company in Milan on June 20, marking the label’s fourth runway show.

“C.P. Company has achieved a lot in the development of men’s wear,” Faulds said Wednesday in an exclusive interview. “I know the brand very well and have followed it over the years. I understand its philosophy and am aware of its roots. Now I plan to move it forward.”

Pungetti leaves after eight years.

“In difficult times you have to react,” said Carlo Rivetti, owner and chief executive officer of Sportswear Company, the parent of C.P. Company and men’s sportswear label Stone Island. “[Faulds] has great talent for interpreting product and a passion for material and color that coincides with our philosophy. We will not focus on radical change but on strengthening of archetypes.”

Founded in 1975 by Italian designer Massimo Osti, C.P. Company built a cult following with its military-inspired silhouette and customized textile treatments. The label’s breakthrough pieces include the iconic Goggle Jacket, also known as the Mille Miglia, first produced in 1989, which was displayed in the Fashion and Sport exhibit at London’s Victoria & Albert Museum last year.

Faulds said he would use his experience at Galliano to develop C.P. Company’s edgy but wearable styles and focus on evolving the silhouette into something more “chic and refined” — in particular, shoulder pieces and knitwear.

“My experience at Galliano allowed me to feel much freer about designing and pushing boundaries. I will just take a more practical approach to that freedom,” Faulds explained.

Rivetti said he was “very optimistic” for the future, anticipating Faulds’ arrival would bring new life to the label. For spring, Rivetti said the collection would be pared down and focused with a clear message.

“The economic crisis is changing consumption from spending to investing. Men will buy less but better,” Rivetti said.

He did not disclose the label’s sales in 2008, although Sportswear Company generated revenues of 62 million euros, or $91.2 million at average exchange, in the period. Men’s wear accounts for 85 percent of C.P. Company sales. The label introduced women’s wear in 1994. By region, Italy is the label’s largest market, followed by the U.K., Japan, France, Germany, Russia and the U.S.

C.P. Company is sold alongside Stone Island in seven stores in Italy, South Korea and the U.K. The label also counts corners in key department stores, including Barneys New York, Selfridges, Isetan, Hankyu and Printemps.

Rivetti said he was looking to open a C.P. Company standalone flagship in Milan this year or next, depending on finding a suitable site.

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