FACONNABLE NAMES GUERIN
Byline: David Moin
NEW YORK — Faconnable SAS, the classic-style French designer brand owned by Nordstrom, on Wednesday named Pierre Guerin president, to oversee the brand’s European operations.
Guerin will report to Gail Cottle, president of Nordstrom Product Group, and will effectively serve as chief executive of Faconnable in Europe, without carrying the title. Guerin succeeds Jean-Pierre Benaym, one of the partners in Faconnable who sold the company to Nordstrom last fall for $170 million.
Nordstrom will continue to build the Faconnable team as it plans to add freestanding Faconnable boutiques in Europe and America and broaden the product offerings. Faconnable was founded in 1950 by Jean Goldberg and designed since 1960 by his son, Albert Goldberg. Nordstrom started selling the brand exclusively in the U.S. in 1989. It has reportedly done well recently, while most of Nordstrom’s apparel business has struggled in the past several seasons.
Nordstrom does about $100 million in retail sales of Faconnable clothes at its stores, and gets additional volume through the Faconnable boutiques it owns. There are three boutiques in the U.S., in New York, Beverly Hills, and at South Coast Plaza in Costa Mesa, Calif., and a total of 53 around the world, primarily in Europe. Faconnable’s wholesale volume is around $60 million.
Cottle said in a statement that Guerin’s “extensive management background in luxury retailing makes him an ideal choice to lead Faconnable with its overseas growth strategy and maximize the tremendous potential of the brand.”
Guerin’s resume includes posts as vice president of Cartier France and international operations manager of Cartier International; chief operating officer of Groupe L’Amy eyewear, group commercial director of Loewe, and vice president of marketing and sales for Pierre Balmain.