Giorgio Armani's deputy managing director, Giuseppe Marsocci, is set to be appointed chief executive of the Italian fashion house, a source said on Thursday, confirming a local media report.
The appointment will be approved by a board meeting to be held later on Thursday, the source added.
Marsocci, who has been at the company for 23 years, most recently as Global Chief Commercial Officer for the last six years, steps into the role previously held by founder Giorgio Armani, who died in September.
Armani kept a tight grip on the fashion empire he set up 50 years ago, but a new structure is emerging for its next phase.
Marsocci will oversee the planned sale of a 15% stake, with priority to be given to luxury conglomerate LVMH, beauty heavyweight L'Oreal, eyewear leader EssilorLuxottica or another group of "equal standing", as outlined in Armani’s will.
"His international professional experience, deep knowledge of the sector and the company, discretion, loyalty, and team spirit, together with his closeness to Mr. Armani in recent years, make Giuseppe the most natural choice to ensure continuity with the path outlined by the founder", said Armani's partner and head of men's design Pantaleo Dell'Orco, who has taken on the role of company's chairman.
Dell'Orco has also recently been appointed to chair the Giorgio Armani Foundation which controls 30% of the voting rights of his business empire. Dell'Orco already controls 40% of the luxury group's voting rights.
The appointment of Marsocci, 61, was unanimously proposed by the Giorgio Armani Foundation, the luxury group said.
Giorgio Armani's niece Silvana, head of women's style, will be appointed as Vice President, according to the statement.
U.S. President Donald Trump said on Saturday that the airspace above and surrounding Venezuela should be considered "closed in its entirety", but gave...
Palestinian group Hamas continues its patient approach to maintain it despite provocations, says Recep Tayyip Erdoğan....
Iconic playwright Sir Tom Stoppard has died surrounded by his family according to a statement released by his agents on Saturday....
The Government of Kazakhstan has condemned Ukraine’s latest drone strikes on a Caspian Pipeline Consortium terminal on the Russian Black sea....
China announced a sweeping inspection of fire-safety standards in high-rise buildings nationwide on Saturday after a deadly fire in Hong Kong left at ...
U.S. President Donald Trump said on Saturday that the airspace above and surrounding Venezuela should be considered "closed in its entirety", but gave no further details.
Palestinian group Hamas continues its patient approach to maintain it despite provocations, says Recep Tayyip Erdoğan.
Iconic playwright Sir Tom Stoppard has died surrounded by his family according to a statement released by his agents on Saturday.
The Government of Kazakhstan has condemned Ukraine’s latest drone strikes on a Caspian Pipeline Consortium terminal on the Russian Black sea.
At least 47 people have died and another 21 are reported missing following ten days of heavy rainfall, floods, and landslides across Sri Lanka, local media reported on Thursday (27 November).
Hong Kong fire authorities said they expected to wrap up search and rescue operations on Friday after the city's worst fire in nearly 80 years tore through a massive apartment complex, killing at least 128 people, injuring 79 and leaving around 200 still missing.
U.S. Secretary of Defense Pete Hegseth visited sailors aboard the USS Gerald R. Ford aircraft carrier in the Latin American region on Thursday, amid a military buildup by President Donald Trump’s administration that has heightened tensions with Venezuela.
At least 153 people have been killed in Sri Lanka after landslides and flooding caused by Cyclone Ditwah, officials said on Saturday, with 191 others missing and more than half a million affected nationwide.
The Spanish agricultural sector has been placed on high alert following the confirmation that African Swine Fever (ASF) has resurfaced in the country for the first time in over thirty years.
European Union ministers will urge senior U.S. trade officials to implement more elements of the July EU–U.S. trade deal on Monday, including cutting tariffs on EU steel and lifting duties on goods such as wine and spirits.
Google has announced a major update for its Pixel 10 series: owners can now send and receive files with Apple devices using AirDrop, without any collaboration from Apple. The new functionality applies to iPhones, iPads, and macOS devices, though for now it is limited to the Pixel 10 line.
European shares climbed on Thursday, as a relief rally swept through global markets after artificial intelligence (AI) bellwether Nvidia reported strong earnings, while investors awaited the release of delayed U.S. jobs data.
Mainland China and Hong Kong equities slipped on Tuesday, Reuters reported, as investors grew cautious ahead of delayed U.S. economic data expected to clarify the Federal Reserve’s policy outlook.
A federal jury in California ruled on Friday that Apple must pay $634 million to Masimo, a medical-monitoring technology company, for infringing a patent related to blood-oxygen reading technology.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment