Brunello Cucinelli, the esteemed Italian luxury fashion house renowned for its exquisite menswear, womenswear, and childrenswear, is currently undergoing a significant leadership transition. Founder Brunello Cucinelli recently made the decision to step down from his role as CEO, marking the start of a new era for the iconic brand.
During the annual shareholders’ meeting, a new senior management team was officially ratified to lead the fashion label. In a momentous decision, shareholders not only approved the financial report for 2019 but also welcomed two new co-CEOs to join the founder in steering the company forward. This strategic move signifies a fresh chapter for Brunello Cucinelli, ensuring a seamless transfer of power while upholding the brand’s distinctive style and ethos.
The newly established board of directors, comprising 12 members, has assigned Executive President Brunello Cucinelli the responsibility of overseeing the creative direction, style, and communication aspects of the brand. Additionally, Luca Lisandroni and Riccardo Stefanelli have been appointed as co-CEOs, with Lisandroni managing the commercial side while Stefanelli focusing on product development and operations.
In a statement, founder Brunello Cucinelli expressed his confidence in the capabilities of the new co-CEOs and emphasized the values of truth, beauty, and humanity that underpin the brand. He looks forward to seeing Lisandroni and Stefanelli uphold these principles for future generations within the industry.
The newly appointed directors bring a wealth of expertise to the table, with Riccardo Stefanelli boasting 14 years of experience within the brand and Luca Lisandroni bringing four years of expertise from Luxottica. Their combined knowledge and dedication position them well to guide the company through its next phase of growth and evolution.
Furthermore, the shareholders’ meeting approved a robust financial statement for Brunello Cucinelli, showcasing a notable increase in net revenue to €607.8 million, marking a 9.9% growth from the previous year. The brand also saw a 7.1% rise in normalised net income, reaching €49.3 million.
Looking towards the future, the leadership team at Brunello Cucinelli remains committed to securing the brand’s continued success in the fiercely competitive fashion landscape. With a solid foundation, a clear vision, and a team of capable leaders, the brand is poised to maintain its legacy of excellence and innovation under the guidance of the new co-CEOs and founder.
For more information about Brunello Cucinelli, visit their official website here.
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