MILAN — The merry-go-round continues to spin at Italian men’s wear brands.
“This is an exceptional opportunity, there is enormous potential at Pal Zileri,” Mannucci told WWD exclusively. “I am fascinated by the brand’s legacy and I am passionate about this project.”
Mannucci conceded that “the market is difficult” at the moment, but said the challenge was a “stimulus” he needed. “There is so much talent and the right energy within the company and I have very clear ideas for the brand that I will illustrate more clearly going forward — some very, very innovative. I want my strategy to reflect and be consistent with what I have identified.”
Mannucci joined Boglioli in 2013, having previously served as ceo of men’s wear firm Isaia. He oversaw Boglioli’s expansion globally, opened stores in Milan and New York, and tapped Davide Marello as creative director of the brand.
At Pal Zileri, Mannucci succeeds Paolo Roviera, who left at the end of July to join Corneliani under its new owner, Bahrain-based Investcorp.
At Pal Zileri, Mannucci will work with creative director Mauro Ravizza Krieger, whose first collection for the brand bowed in January 2015 and who was tapped to revamp the label, which is controlled by Mayhoola Group. The investment vehicle backed by a private investor group from Qatar first took a 65 percent stake in Pal Zileri’s parent company Forall Confezioni SpA in 2014. In July, Mayhoola bought the remaining 35 percent of the firm from Arafa Holding, representing the fund’s commitment to expand the brand over the long term.
Andrea Perrone will take on the ceo’s position at Boglioli, which is controlled by private equity fund Wise Sgr.
Perrone joined Brioni in 2005 and became ceo of the men’s wear company a year later, leaving in 2010. He then joined Ferrari SpA in 2011 as senior vice president of the brand and was ceo of Ferrari Brand SpA from 2013 until 2015. He has been a member of the board of Boglioli since 2013, as a director of Wise, and became senior adviser of the Wisequity III and Wisequity IV funds in 2016.
“I’m going back to the roots,” said Perrone of returning to a men’s wear brand. “Now, as it was then, the project has an enormous value. The brand has a very important equity and it has not fully expressed its potential. Also, it never slipped.”
Perrone said the path taken three years ago is “the right one and we will continue in this direction,” pointing in particular to the work done by Marello, which is “consistent with what the brand expresses.”
Perrone said a boutique will open in early December at Brickell City Centre in Miami. “Italy is historically a core market for Boglioli, but the U.S. is starting to become very important for us,” he observed.
It’s been a busy week for Italian men’s wear brands. Earlier this week, Brioni parted ways with its controversial creative director Justin O’Shea after only six months. O’Shea had been brought on board to reposition the classic brand, but his short tenure is a clear indication that the experiment was not working.