Etro Nominated The New General Manager To Assist The Group In Implementing The Development Plan.

Etro SpA, a luxury family business in Italy, who first experienced the departure of general manager Ippolito Etro, announced the appointment of the new general manager of Francesco Giannaccari.

In April of this year, Ippolito Etro left the brand created by his father Gerolamo "Gimmo" Etro in 1968 to "join the new business area".

Gerolamo Gimmo Etro, currently president of Etro SpA, temporarily displaces Ippolito Etro's duties, Gerolamo Gimmo's Etro's eldest son, global communications vice president, Jacopo Jacopo.

Assistance.

Francesco Giannaccari was previously the vice president of international and international licensing business of luxury brand Tom Ford.

From 1998 to 2005, he served in Gucci group, the predecessor of Kai Yun group, now Kering SA (KER.PA). He served as CEO of Gucci Gucci Europe and executive vice president of Bottega Veneta.

After that, he switched to Abercrombie&Fitch Co. (NYSE:ANF) to take charge of international affairs.

Jacopo Etro said that it would simplify the decision-making process of the group by visiting the family Francesco Giannaccari, and Francesco Giannaccari would assist the group in implementing the development plan, including the expansion of shoes, perfume and glasses, as well as expanding the retail network in Europe, the United States, mainland China, Hongkong and Singapore.

In 2013, when the income reached Euro 300 million, it was intentionally pferred.

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According to media Pambianconews, Italy luxury brand Etro SpA hopes to emulate its rival Gianni Versece SpA, Versace, and expand its capital by selling shares.

Etro SpA has recently received several investment intentions from luxury giants and private equity funds, including the world's largest luxury group LVMH Mo t Hennessy Louis Vuitton SA (LVMH.PA) MOET & CHANDON Hennessy LV group.

News indicates that Etro SpA is comparing potential buyers, hoping to find the best way to support future development, and is likely to complete the paction eventually.

However, in announcing the departure of Ippolito Etro, Jacopo Etro stressed that the company had no intention of giving up control.

Etro SpA was jointly taken over by four children from Gimmo Etro. The three child Ippolito Etro served as general manager. Men's wear and women's wear design were respectively responsible for two children Kean Etro and the smallest daughter Veronica Etro.