MILAN — Antonio Moltoni has joined the Missoni Group as chief executive officer of Missoni USA, a new position. Moltoni is tasked with overseeing the retail and wholesale expansion of the Missoni and M Missoni brands.
“Moltoni will be a crucial part of the U.S. growth strategy,” said creative director Angela Missoni, who also holds the role of president of the group. “Antonio has wholesale experience and strong relationships with our department store partners and that’s a business we’d also like to grow.”
Projects in the U.S. include a relocation of its New York flagship to Madison Avenue and 61st Street and a Missoni boutique that will open at the Bal Harbour Shops in Florida. In Florida, an M Missoni boutique will also be unveiled at the Aventura Mall.
Moltoni joins Missoni after more than a decade working at Gucci America and Dolce & Gabbana USA. Moltoni expressed admiration for the brands, the Missoni family and their “staying power.” “With the entrance of the FSI Midmarket Growth Equity Fund, we have resources and strategic leadership to bring the Missoni Group to its fullest potential,” said the executive. Ottavio Missoni Jr. will retain his position as president of Missoni USA.
Last year, FSI took a 41.2 percent stake in the Missoni group, with the family retaining control of the company, holding 58.8 percent of the shares. The goal was to focus on international expansion, product extension and retail development in key markets.
Last month, Margherita Maccapani Missoni, daughter of Angela Missoni, unveiled her first collection as creative director of the younger M Missoni line, for the spring season. Her remit is to further differentiate, reposition and expand the brand globally.
In June, vice president Michele Norsa, who is also a partner in FSI, said the fund was investing 10 million euros in the areas that Missoni needed to develop: the U.S. and Asia.
The funds are being channeled into boosting Missoni’s retail network, which counts around 70 stores globally.
Missoni sales last year totaled 150 million euros.