MILAN — Italian private equity firm Clessidra has tapped Francesco Trapani as executive vice chairman.
Trapani, who also joins Clessidra as shareholder and operating partner, officially left his position as chairman of LVMH Moët Hennessy Louis Vuitton’s watches and jewelry division on March 1.
Trapani took that position in 2011 when the French luxury conglomerate acquired Bulgari, where he was chief executive officer at the time. He is a member of the board of directors of LVMH and adviser to the chairman on the group’s activities.
Having transformed Bulgari, which he joined in 1981, from a small jewelry company to a leading group with a turnover of 1 billion euros, or $1.38 billion at current exchange rate, Trapani will help boost Clessidra’s investment strategy in the fashion and jewelry industry.
Last year, the Italian private equity firm bought a 70 percent stake in Milanese jewelry firm Buccellati and recently has entered into exclusive negotiations with Italian men’s wear clothing company Harmont & Blaine SpA.