MILAN — Peuterey Group SpA has tapped Francesco Pesci as its new chief executive officer.
The former Brioni executive succeeds Francesca Lusini, a member of the company’s founding family, who will maintain her role as president of the Tuscany-based outerwear firm. The group controls the Peuterey, GeoSpirit, Aiguille Noir and Post Card labels.
The appointment of an experienced manager such as Pesci is in line with the company’s strategy aimed at expanding its international presence. Peuterey operates 10 flagships in Europe, along with an additional 15 units across the Middle and Far East.
“I’m very happy that Francesco Pesci is joining the Peuterey team,” Lusini said. “I’m convinced that his versatility and broad vision, demonstrated with his excellent job both in family-owned companies and big groups, combined with his great commercial experience and international attitude, perfectly match with our reality and are also precious and winning characteristics to realize our business strategy.”
Pesci, who started his career at Colgate-Palmolive, joined Brioni in 1994, where he held the post of commercial director for 10 years. He then joined Damiani Japan as ceo, before returning to Brioni as worldwide sales director. In 2010, he succeeded Andrea Perrone as ceo of the men’s wear label and, in this role, managed Brioni’s integration into the structure of new parent group Kering. Last November, former Bottega Veneta executive Gianluca Flore succeeded Pesci at the helm of the luxury fashion house.
“I think that my appointment is finalized at reinforcing the management team to accelerate the international expansion of the brand,” said Pesci, who added that, according to the business plan developed for the next three to five years, Peuterey will focus especially on both the U.S. and China markets.
In particular, Peuterey aims to expand its wholesale presence in the United States, a market that Pesci defined as “mature and solid,” as well as at developing a retail plan in China with the opening of both directly operated and franchised stores.
In order to help fund its expansion, last year Lusini revealed that the company had tapped Deloitte as adviser to evaluate the sale of a minority stake. The company expects to close its fiscal year, ending on March 31, with revenues of 80 million euros, or $90.6 million at current exchange rates, down 11 percent from the previous year.