MILAN — A brand new chief government officer is anticipated at Italian vogue model Twinset.
Market sources say Gabriele Maggio, most not too long ago CEO of Elisabetta Franchi, is becoming a member of Twinset, succeeding Alessandro Varisco. This follows the acquisition in June of 100% of the corporate by Borletti Group and Quadrivio & Pambianco, via the personal fairness automobile Made in Italy Fund II, from The Carlyle Group.
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Varisco joined Twinset in 2015 from Moschino, the place he had led the model since 2009. Earlier than Moschino, he served as managing director at Roberta di Camerino for 2 years and, previous to that, as gross sales and advertising director at Gianfranco Ferrè from 2003 to 2008.
Maggio joined Elisabetta Franchi in February 2024 and left in October. His profession in vogue spans greater than 25 years, as he was beforehand president and CEO of Stella McCartney, which he exited in December 2023, after 4 years on the helm of the model. Previous to McCartney, Maggio was common supervisor of Moschino. He beforehand held a number of senior government and board-level positions at each Gucci and Bottega Veneta. His curriculum additionally contains experiences at Giorgio Armani and Prada.
Maggio’s departure from Elisabetta Franchi comes on the heels of Marco Bizzarri’s divestiture of his stake within the firm in July and his personal exit, resigning as chairman on the finish of September, as reported.
Twinset was based as a knitwear specialist, and has expanded into girls’s whole look collections, additionally holding vogue exhibits in Milan. Over the previous few years, it has reached out to a youthful era, tapping the likes of Emily Ratajkowski, Georgia Could Jagger and Suki Waterhouse for its communication.
Positioned within the reasonably priced luxurious market vary, Twinset in 2024 reported revenues of greater than 200 million euros, and earnings earlier than curiosity, taxes, depreciation and amortization of greater than 30 million euros.
In Could, Borletti Group purchased a minority stake in denim, sportswear and equipment model True Faith. It has greater than 20 years of expertise investing in premium and way of life manufacturers starting from Printemps and Rinascente to MooRER and Zimmermann.
Made in Italy Fund II’s investments have ranged from sneaker model Autry and Filippo De Laurentiis, specialised in high-end knitwear, to French model Sessùn.
On the time of the acquisition, highlighting Twinset’s robust id and consciousness, Alessandro Binello, group CEO of Quadrivio Group and managing associate of the Made in Italy Fund II, mentioned the reasonably priced luxurious phase “is right now an important goal” for personal fairness funds “and we purpose to proceed to spend money on it, assured in its nice potential and the return for our traders.”
The Carlyle Group acquired 70 p.c of Twinset in 2012, upping its stake to 90 p.c in 2015 and taking full management in 2017 after Simona Barbieri, who based the corporate in 1990 within the Italian city of Carpi — a knitwear hub — with enterprise associate Tiziano Sgarbi, left the corporate for good.
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