Fred (FRED) / LVMH
LVMH, the French luxury conglomerate, announced the appointment of Vincent Reynes as the CEO of its jewelry and watch brand FRED, effective September 1, 2024. In his new role, Vincent Reynes will be responsible for supporting the brand’s strong and sustainable growth, reporting directly to LVMH Group Managing Director Stéphane Bianchi.
Vincent Reynes succeeds Charles Leung, who has been serving as the CEO of another LVMH jewelry brand, CHAUMET, since November last year.
Vincent Reynes
Vincent Reynes has been with LVMH’s Italian luxury jewelry brand Bvlgari since 2001, contributing to advertising, marketing, brand image, and creative roles in the perfume, beauty, and accessories divisions. His most recent position at Bvlgari was as President and CEO of Bvlgari Japan since 2022. Previously, he served as Managing Director for the UK, Middle East, and Africa regions.
Stéphane Bianchi expressed his pleasure with Vincent Reynes’s appointment, highlighting Reynes’s strong and positive leadership, deep understanding of the products, and exceptional energy and engagement throughout his 20-year career at Bvlgari.
Polo Ralph Lauren / Ralph Lauren Corporation
Ralph Lauren Corporation announced via email that Michael Rider, the Creative Director of Polo Ralph Lauren, will be resigning, with the specific departure date undisclosed.
Michael Rider has been with Polo Ralph Lauren since 2018. Before joining Polo Ralph Lauren, he served as the Ready-to-Wear Design Director at LVMH’s Céline under renowned designer Phoebe Philo for nearly a decade and worked at Balenciaga with Nicolas Ghesquière for four years. Industry rumors suggest Michael Rider might return to Céline in a higher position, as current Creative Director Hedi Slimane is rumored to be leaving.
Michael Rider
Ralph Lauren is searching within its internal team for Michael Rider’s replacement. Karen Brown, an 18-year veteran of Ralph Lauren Corporation, will take on the role of Senior Creative Director for Women’s Polo, responsible for design and brand image. In her new position, she will report directly to Ralph Lauren.
Karen Brown has held various design positions at Ralph Lauren, including Concept Designer for Ralph Lauren Home and several leadership roles in the Polo women’s department, significantly contributing to the repositioning of women’s Polo shirts alongside Michael Rider.
Ralph Lauren Corporation, which owns brands such as Ralph Lauren, Ralph Lauren Collection, Polo Ralph Lauren, and Chaps, reported a 6% increase in total revenue to $1.9 billion in its most recent third-quarter report, outperforming competitors like Aeffe, Kering, Burberry, and Ferragamo.
Dazzle Fashion
Dazzle Fashion Co., Ltd. announced that its board of directors received the resignation of Tian Lin, the company’s director, deputy general manager, and board secretary, on May 19. Tian Lin resigned from his positions for personal reasons and will no longer hold any positions in the company or its subsidiaries. The company stated that Tian Lin’s resignation would not affect the normal operation of the board or daily business activities.
Before joining Dazzle Fashion in May 2021, Tian Lin held various roles, including Audit Manager at Simon Electric (China) and Senior Manager of Audit, Audit Director, Financial Director, Board Secretary, Vice President, and General Manager of the Investment and Financing Center at Luolai Lifestyle Technology Co., Ltd. During his tenure at Dazzle Fashion, he served as Assistant to the Chairman and was promoted to Director, Deputy General Manager, and Board Secretary.
According to the Shanghai Stock Exchange’s listing rules and related regulations, in the absence of a newly appointed board secretary, the company’s CFO Zhang Jun will temporarily assume the duties of the board secretary. The company will complete the selection of a new board secretary and the election of additional directors as soon as possible.
Giordano
On May 17, Giordano held its annual general meeting, approving Peter Lau‘s decision to step down as a director after the meeting. Following his departure, he will no longer serve as an independent non-executive director, chairman of the audit committee, or a member of the nomination and remuneration committees.
Meanwhile, Edwin Wong was appointed as a member of the nomination committee, effective May 17, 2024. Additionally, Giordano appointed executive director Colin Melville Kennedy Currie as the company’s CEO, effective April 5, 2024.
As of the first quarter of 2024, Giordano International’s revenue decreased by 1.1% year-on-year to HKD 961 million, with global brand sales down 3.4% year-on-year to HKD 1.101 billion, and same-store sales up 0.7% year-on-year to HKD 741 million. During this period, the number of Giordano stores decreased by 63 to a total of 1,794 stores.
MCM
German luxury brand MCM announced the appointment of Sarika Rastogi as Head of Brand Marketing and Communications for North and South America (NSCA), leading the brand’s communication efforts.
Sarika Rastogi has extensive experience in the luxury fashion sector, with over 20 years of experience in communications, public relations, marketing, brand promotion, and brand events. Before joining MCM, she held various positions at Michael Kors, Tod’s, Chanel, and Vogue.
This appointment follows MCM’s recent launch of a new brand identity. According to the press release, MCM’s current strategy focuses on revitalizing the brand’s heritage and transforming its product portfolio into a new, comprehensive lifestyle collection, repositioning MCM as a digitally driven, intelligent, and sustainable luxury apparel and accessories brand.
Sarika Rastogi
Currently, MCM’s business direction is led by Sabine Brunner, recently appointed President of MCM Global AG and a member of the executive committee. Brunner is responsible for creativity, category development and planning, marketing, creative interactive spaces, licensing, business development, and serves as Chief Brand and Commercial Officer, reporting to the Chairman and Chief Visionary Officer.
Sabine Brunner commented on Sarika Rastogi’s appointment: “With Sarika Rastogi’s expertise in luxury goods, she is naturally our best choice to serve as the brand’s internal advocate, fostering the evolving brand heritage of MCM and the conversation around MCM’s inherent digital nomad lifestyle.” MCM was founded in 1976 and currently has 650 stores in 40 countries.
Sanlorenzo Monaco Group / Sanlorenzo Group
Italian yacht group Sanlorenzo Group announced the appointment of Ferruccio Rossi as CEO of the newly established subsidiary Sanlorenzo Monaco Group, headquartered in the Principality of Monaco. The subsidiary will lead the commercial development of the Sanlorenzo brand in Monaco, France, and Spain, with offices in Cannes and Palma.
In addition to his promotion, Ferruccio Rossi will become a minority shareholder of the group, subject to approval at the upcoming Sanlorenzo shareholders’ meeting in June 2024. Ferruccio Rossi resigned from his position on the Sanlorenzo SpA board on May 13.
Sanlorenzo Group Chairman and CEO Massimo Perotti stated that the establishment of the subsidiary is part of the group’s broader strategy to directly distribute the Sanlorenzo brand in key markets. This strategy recently saw success with the acquisition of Simpson Marine Group in the Asia-Pacific region. By managing the US market through the Sanlorenzo of the Americas team, Sanlorenzo reaffirmed its position as a “First Mover” in the yachting industry, implementing a customer-centric strategy in key markets.
| Sources: Brand/Company Websites and Official LinkedIn, Executive Personal LinkedIn, Reuters, Shanghai Stock Exchange Documents
| Image Sources: Brand/Company Websites and Official LinkedIn, Executive Personal LinkedIn
| Editor: Liu Jun
