MILAN — Italian retailer Coin SpA has appointed Roland Armbruster its new chief executive officer.
The ceo role had been vacant since early last summer when Cristina Mollis quietly left the company.
Coin SpA 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 in March 2018. As reported, Marco Marchi, founder and president of Italian diffusion line Liu Jo, acquired a 15 percent minority interest in the retailer through his Eccellenze Italiane holding last November.
“The appointment of Roland Armbruster represents a positive strengthening that occurs concurrently with the reopening of the stores and as we resume planned restoration works at some units,” commented Giorgio Rossi, who was named Coin president in 2018.
A seasoned German retail executive, Armbruster kicked off his career in consultancy before joining international retail companies including Karstadt, KaDeWe Group and Intertoys, where he most recently served as ceo.
“With his deep experience and competence, Armbruster will successfully lead a very engaged team. Coin will continue to expand its offering and provide its partner brands the possibility to express themselves in the best possible way within a dynamic and innovative context, in which a tailor-made customer experience will be key,” commented Rossi.
The retailer manages 40 directly operated flagships in Italy and 100 stores under the Coincasa banner in the country and abroad, as well as three Coin Excelsior units in Milan, Rome and Trieste.
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.