MILAN, Sept. 9, 2021 /PRNewswire/ — Etro («Etro» or the «Company»), the global luxury fashion house, today announced that Fabrizio Cardinali will be appointed as Chief Executive Officer, effective fourth quarter 2021.
Mr. Cardinali brings more than 25 years of strategic leadership expertise and an unmatched track record of driving international brand growth in the luxury fashion space. He joins Etro from Dolce & Gabbana, where he held several roles with the company, and most recently served as Chief Operating Officer and executive member of the board since June 2017. His nearly 13-year tenure at Dolce & Gabbana was interspersed with five years within Richemont, where he held the role of Chief Executive Officer of several luxury fashion brands of the group, including Dunhill and Lancel.
In this new role, Mr. Cardinali will work closely with and be supported by L Catterton, the largest global consumer-focused private equity firm, which announced a strategic partnership with the business in July 2021, as well as the Etro family, including Founder and Chairman Gerolamo Etro.
«I am thrilled by the opportunity to join Etro during such an exciting time for this iconic fashion house,» said Mr. Cardinali. «I have long admired the Company’s heritage and its distinctive Italian style and craftsmanship, and I look forward to working closely with L Catterton, the Etro family, and the entire leadership team to capitalize on a number of exciting opportunities to grow the customer base and expand our category offerings and international footprint.»
«We are delighted to welcome Fabrizio to Etro,» said Luigi Feola, Managing Partner and Head of Europe at L Catterton. «Having established himself as an unparalleled leader in luxury fashion with incredible vision and creative energy, his depth of expertise and operational acumen make him well-suited to drive this new chapter of growth as we look to build on Etro’s incredible legacy around the world.»
«As we enter into this meaningful new phase for the Company, we are pleased to welcome an experienced and bright manager like Fabrizio,» added Founder and Chairman Gerolamo Etro. «I am convinced that his vision and knowledge of the business will strongly contribute to enhance Etro’s future growth and strengthen its positioning as a leading fashion brand in the global luxury scene.»
Founded by Gerolamo Etro in 1968 and headquartered in Milan, Etro is today a globally known luxury brand boasting global reach and consumer recognition. Etro’s global footprint relies on a widespread multi-channel retailing strategy that makes the brand’s offering available worldwide, starting with approximately 140 brand’s flagship stores in over 58 countries across Europe, the United States, Russia, Middle East and APAC. Milan, London, Paris, New York, Beijing, and Tokyo are among the main capitals where Etro has established its strong presence through prestigious real estate locations positioned on the paramount streets of the luxury shopping map. Etro’s distribution network further reaches with approximately 20 travel retail doors, extending the brand’s purchase experience to major international hubs, and by an attentive wholesale selection of leading department stores and multi-brand boutiques. In addition, online plays an increasingly pivotal role in Etro’s direct-to-consumer journey across the continents, with brand’s directly operated e-commerce currently operating throughout Europe, the United States, and Japan, while simultaneously developing exclusive collaborations with the most influential digital marketplaces internationally.
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