The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The luxury e-tailer tapped De Cesare for the chief executive role. Previously, he was the chief executive of the Parisian department store Printemps until March 2020.
“I’m excited to become the first CEO that will have the experience of leading a physical retailer and a digital retailer,” De Cesare told BoF.
The Matches announcement follows an ongoing executive reshuffling at the company. Earlier this year, former chief executive Ajay Kavan left his position after one year in the job. The CEO role had been left vacant since March.
Learn more:
ADVERTISEMENT
Matchesfashion Doubles Down on Emerging Labels
The retailer, facing growing pains of its own, is launching a new ‘Innovators Programme’ to bolster the fledgling labels that help set it apart from competitors in a crowded luxury e-commerce market.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.