MILAN – Italian department store chain Coin Srl has named Giorgio Rossi president of the company.
The role has been vacant since last March when Coin was fully acquired by Centenary SpA, a new company formed by Coin’s management team and other investors, from British private equity firm BC Partners.
Rossi started his career in the family textile business before founding the Norton & Wilson brand in the Eighties. In the late Nineties the executive left the apparel industry to focus on real estate.
Coin manages directly and through franchisees around 40 stores selling apparel, beauty products and home decoration under the Coin, Coincasa and Coin Excelsior banners.
Last March, on the heels of the acquisition by Centenary SpA, the group unveiled its third Coin Excelsior outpost in Milan’s CityLife shopping district, following units in Rome and Venice, which opened in 2014 and 2015, respectively.
Coin was founded by Vittorio Coin in 1916. In 1974, grandsons Vittorio and Piergiorgio took the helm of the family company. In 1999, the Coin Group was listed on the Milan Stock Exchange. While run by the founding family’s fourth generation, the Coin Group was in 2005 acquired by European private equity concern Pai Partners and two years later, British-based BC Partners, took control of the Coin Group and delisted it.