Kering
Kering SA will submit for shareholder approval the nominations of Marie-Hélène Chenut and Laurent Kleitman to its Board of Directors.
Laurent Kleitman, Marie-Hélène Chenut
Upon taking office, the two will succeed Yonca Dervisoglu and Maureen Popkin Chiquet. Yonca Dervisoglu is a marketing executive at Alphabet Inc., Google’s parent company, while Maureen Popkin Chiquet is the former CEO of Chanel.
Marie-Hélène Chenut spent thirty years at Chanel, working across the brand’s fragrance and haute couture divisions. She has developed comprehensive expertise in brand positioning, product development, and luxury strategy management.
Laurent Kleitman is currently the Chief Executive Officer of Mandarin Oriental International Ltd. He previously held positions at Parfums Christian Dior, Coty Inc., and Unilever PLC, building extensive experience in global markets, customer experience, and international growth strategy.
Kering’s Annual General Meeting is scheduled to take place on May 28.
Dolce & Gabbana
Italian luxury brand Dolce & Gabbana has announced that co-founder and Chairman Stefano Gabbana has submitted his resignation from his positions at Dolce & Gabbana Holding Srl, Dolce & Gabbana Trademarks Srl, and Dolce & Gabbana Srl, effective January 1 of this year.
Alfonso Dolce, the current Chief Executive Officer and brother of co-founder Domenico Dolce, assumed the role of Chairman in January.
Dolce & Gabbana stated that the decision is a natural evolution of its organizational and governance structure, and that “this resignation will not affect Stefano Gabbana’s creative responsibilities within the Group.” Stefano Gabbana co-founded the brand with Domenico Dolce in 1985, and it quickly became one of the world’s most recognizable fashion luxury brands, distinguished by its Mediterranean-inspired aesthetic.
In addition, Bloomberg, citing sources familiar with the matter, reported that Stefano Gabbana is considering disposing of approximately 40% of his stake in the company. The remaining shares are currently held by members of the Dolce family—Domenico, Alfonso, and their sister Dorotea.
Dolce & Gabbana is currently engaged in a new round of debt negotiations with creditors. According to multiple sources, the company’s lenders are seeking up to €150 million in new funding as part of a €450 million debt refinancing plan. The company is considering selling real estate and renewing licensing agreements to raise funds.
Sources also revealed that as part of the management reshuffle, the company plans to appoint former Gucci CEO Stefano Cantino to a senior management position. All parties involved declined to comment on these reports.
Victoria Beckham
Ralph Toledano, Chairman of the Board of Victoria Beckham, the eponymous brand of British designer Victoria Beckham, stepped down from his position effective March 31.
Ralph Toledano assumed the role in 2018. He is a member of the investment firm Neo Investment Partners, which acquired a 30% stake in the Victoria Beckham brand that same year and successfully turned the long loss-making company into a profitable one, achieving a sixfold increase in revenue.
Regarding his future, the 74-year-old Ralph Toledano said, “I want to focus on what I love. I was top of my class in history and French as a child, so I want to study again and enrich myself. I hope to pass on my experience as a legacy for my family, my children, and my grandchildren. I love writing and want to see what I can create. But I am a perfectionist, so it might turn into a ‘nightmare’.”
Born in 1951, Ralph Toledano has an extensive career in the fashion industry and is widely regarded as one of the most respected executives in the French fashion and luxury sector.
From 1985 to 1995, Ralph Toledano served as Managing Director of the Karl Lagerfeld brand. In 1996, he joined the French designer brand Guy Laroche as Managing Director, where he discovered emerging Israeli designer Alber Elbaz and appointed him as Creative Director. After becoming CEO of Chloé, the French luxury brand under Swiss luxury group Richemont, in 1999, he brought then-rising design talent Phoebe Philo to the role of Creative Director. From 2011 to 2012, Ralph Toledano served as Chairman of the Board of the American luxury womenswear brand St. John. Between 2012 and 2017, he joined the Spanish beauty and fashion group Puig, serving as President of the Fashion Division and overseeing the Nina Ricci and Jean Paul Gaultier brands.
| Sources: Official press releases, Bloomberg, FashionNetwork
| Image Credit: Personal social media accounts
| Editor: Luxeplace
