MILAN — Pomellato said Francesco Minoli has stepped down as chief executive officer and will be replaced by Andrea Morante, ceo of Ra.Mo. Spa, a holding company recently established by the Rabolini family that has a majority stake in the luxury jeweler.
Morante’s résumé includes jobs in London as an investment banker at both Credit Suisse and Morgan Stanley, and at Gucci, were he helped restructure the luxury goods house under Investcorp, later becoming chief operating officer.
There was no immediate explanation for the departure. During his 10-year tenure, Minoli was instrumental in steering Pomellato back to its heritage of discreet elegance after the previous management had stepped up the bling factor and pushed ahead with marketing-centric programs.
In 2000, just after Minoli took the reins at Pomellato, sales at the jewelry house stood at $63 million, which Minoli tripled to 128 million euros, or $187 million at current exchange rates, in 2008.
His first success was the “Lucciole,” or firefly collection of handmade yellow, white and rose gold bands, in matte or shiny versions, embossed with a single small diamond. They can be worn in multiples, mixing and matching the different colors.
Minoli also streamlined operations, strengthened the team of goldsmiths and raised Pomellato’s international momentum. Moreover, the executive grew the brand’s retail network and updated the store concept with floral panels designed by artist Michael Lin.
Fleshing out the Dodo line, Pomellato’s young and trendy line of animal charms that was launched as a secondary line in 1994, also was a success for Minoli.
Pomellato counts 30 namesake stores and 17 Dodo venues worldwide.
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