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.
Enzo Quarenghi will join Valentino to head a new division combining its Retail Excellence and Global Markets units, the Rome-based brand said in a statement Monday. Quarenghi, who was previously Italy CEO for payments giant Visa, is being charged with revamping the brand’s customer journey and enhancing strategic connections between communications and selling.
The appointment comes as luxury brands seek to reinvigorate their boutiques during the Covid-19 pandemic by better integrating them with online channels. LVMH recently named a chief omnichannel officer, while Moncler moved to take control of its e-commerce for the first time, pulling out of a white-label arrangement operated by Yoox Net-a-Porter.
Quarenghi will report to Valentino chief executive Jacopo Venturini, who joined the brand from Gucci last year.
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.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.
As the French luxury group attempts to get back on track, investors, former insiders and industry observers say the group needs a far more drastic overhaul than it has planned, reports Bloomberg.
After growing the brand’s annual sales to nearly €2.5 billion, the star designer has been locked in a thorny contract negotiation with owner LVMH that could lead to his exit, sources say. BoF breaks down what Slimane brought to Celine and what his departure could mean.