Acquired by the UK-based luxury e-tailer in 2019, New Guards Group has acquired 60% of Palm Angels, the high-end streetwear label founded by Francesco Ragazzi, which has seen strong growth over the last two years.
The Italian fashion group, bought by Farfetch in 2019 and owner among others of Off-White and Palm Angels, has appointed Cristiano Fagnani, a manager with a 20-year career at Nike, to the newly created post of CMO.
Marcelo Burlon, the former DJ and co-founder of Off-White owner NGG, unveiled his new brand image in Milan with a richer, more couture collection that signalled a notable move towards a more high-end aesthetic.
Farfetch said Thursday it's buying one of the most dynamic groups of fashion forward designer brands as it continues to expand fast. It also had news on its exec team and reported wider losses as it invests in growth.
In Milan the parting farewell generally addressed to a friend by the Milanese is "buon lavoro," literally "good work," which after a very busy week in the Italian fashion capital, summed up the mood and the style here.