Diesel: Marco Agnolin named CEO
today Dec 19, 2017
While Diesel announced the departure of its creative director Nicola Formichetti on Monday, on Tuesday the Italian brand introduced its new CEO. Renzo Rosso, the founder of Diesel and head of the OTB group, also the brand's owner, has recruited a specialist in fast fashion for the managerial role.
Marco Agnolin served for seven years as chief at Bershka, the youth label from Spanish giant Inditex. The manager, introduced as a retail specialist, will fill the role left vacant by Alessandro Bogliolo, who departed Diesel for Tiffany & Co this autumn.
The appointment therefore seems to signal a new direction for Diesel. While Alessandro Bogliolo, who took the company’s reins in 2013, came from a luxury background, having previously served as director of operations at Bulgari, Marco Agnolin’s experience is much more clearly oriented toward the mass market, as shown by his time at Inditex, fist as country manager in Italy, then as chief of Bershka.
His arrival inevitably raises the question of who will be recruited as Nicola Formichetti’s successor as creative director. It also raises doubts as to whether the brand will continue to work in line with the selective distribution strategy implemented by its former CEO. For the time being, the group has not specified any strategic guidelines for Diesel’s future.
Diesel, which accounts for 60% of the OTB group's turnover, reported sales of 960 million euros in 2016, although its balance sheet still registered a loss.
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