Fendi sets up Spanish subsidiary
Fendi is taking its first steps in the Spanish market. The Italian luxury brand, part of LVMH, has formed a new subsidiary in Spain, where it doesn’t have a physical presence yet.
According to the country’s Official Gazette of the Mercantile Registry, the company established a subsidiary under the name of Fendi Retail Spain at the end of January. Its only business partner will be Fendi International and it will be based in Getafe, Madrid.
The Italian brand appointed Serge Brunschwig as its new CEO last month, succeeding Pietro Beccari. Brunschwig has been tasked with driving revenue at the company, which enjoyed a strong increase in sales, up threefold to more than 2 billion euros, during Beccari’s tenure.
LVMH has over 130,000 employees worldwide and its portfolio includes, in addition to Fendi, brands such as Louis Vuitton, Céline, Kenzo, Givenchy, Emilio Pucci, Marc Jacobs, Berluti, Guerlain, Parfums Givenchy, Parfums Kenzo, Perfumes Loewe and Loro Piana.
Copyright © 2021 FashionNetwork.com All rights reserved.