Gucci reshuffles top European hierarchy
today Nov 21, 2019
Gucci has been making changes to its senior management team. A few days ago, the Italian luxury label confirmed the promotion of Beniamino Marini to the position of global communication director.
But Gucci has also reshuffled its senior management in Europe: Gianfilippo Testa, who was in charge of Gucci’s business in Greater China, has in fact returned to the region. After working for 12 years at Fendi, where he reached the post of president Greater China, Testa joined Gucci in 2016, taking on the same role.
Testa is now posted in the EMEAIR region, which for Gucci includes also India and Russia, and which since 2015 has been led by Giovanni Baldi, a long-time Gucci faithful. FashionNetwork.com has learned that Testa has taken over some of Baldi’s responsibilities. Since the start of October, he has been in charge of Gucci’s UK and French subsidiaries, according to administrative documents filed in these two countries.
Contacted by FashionNetwork.com, Gucci declined to comment on these changes, and to give details of Testa’s exact remit.
A former senior auditor at Ernst & Young, Baldi joined the Gucci group in 2000. After a career within the group’s accounting and financial control department, he was appointed CFO of the EMEAI region in 2011, becoming president of the extended EMEAIR region in 2015.
Gucci, led by president and CEO Marco Bizzarri, has been growing at a slower pace in 2019, after skyrocketing in the last few years. Between July and September, its revenue nevertheless increased by 13.3%, and by 10.7% in like-for-like terms. In 2018, Gucci generated a revenue of €8.8 billion.
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