Updated 12:34 p.m. ET June 1
Kering has named Gianfranco D’Attis the new chief executive officer of Alexander McQueen, one of Kering’s underperforming brands, effective Wednesday.
D’Attis, most recently the CEO of Prada, will be based in London and report to Kering CEO Luca de Meo.
In a statement released Monday evening after the end of trading on the Paris Bourse, de Meo said D’Attis “brings a powerful combination of strategic vision, operational rigor and deep luxury expertise.”
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“His ability to sharpen brand identity while driving disciplined execution will be critical as we refocus Alexander McQueen and unlock its full potential,” de Meo continued. “I am confident that, together with the teams, he will lead the house into its next phase of development.”
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At McQueen, he is tasked with “strengthening brand clarity, elevating execution and improving financial performance.”
D’Attis was the first executive outside of the family to hold the CEO role of Prada, but he exited the role after a three-year stint following disagreements over strategy.
Kering touted that the executve brings more than 25 years of international experience in the luxury industry “with a strong track record in brand development, retail excellence and client engagement across key markets.”
At Prada, he “successfully strengthened brand desirability and drove growth through a more client-centric and disciplined approach,” the statement said.
D’Attis was previously president of Christian Dior Couture Americas. Earlier, he was international managing director of Jaeger-LeCoultre.
At McQueen, he succeeds Gianfilippo Testa, who “has decided to leave the group later this year,” Kering said. “We wish him all the very best in his next professional chapter.”
Kering’s Italian employees have been striking over prospective layoffs at McQueen. Out of its 181 employees, the layoffs are expected to total 54, of which 38 are in Novara.
Kering has called “this difficult decision” as “consistent with the evolution of the house’s operating model and the strategic review of its global operations, aimed at restoring the business to sustainable profitability over the next years.”
Last February, de Meo said he had no choice but to cut deep and fast, as McQueen has incurred heavy losses by opening 135 stores worldwide and allowing itself to become excessively reliant on sneaker sales, which at one point represented 80 percent of its revenues.
De Meo has indicated more than half of those stores could be shuttered “without mercy,” with some locations transferred to other brands within the group, which include Saint Laurent, Bottega Veneta and Balenciaga.