Fast Retailing, the parent company of Theory, has announced the appointment of Marco Gentile as the new CEO for its premium label in the UK and Europe. Gentile, who previously served as the chief commercial officer at Chloé, will assume his new role immediately. This move comes as Theory intensifies its efforts in expanding and growing its presence in the region.
Theory has been making significant strides in its European expansion, with a particular focus on the UK market. The brand has recently opened new stores in key locations such as London’s Regent Street, Battersea Power Station, Covent Garden, and Rue Saint-Honoré in Paris. With Gentile’s extensive experience in the luxury sector, his appointment is expected to play a crucial role in improving the label’s performance.
In April, Fast Retailing reported an increase in Theory’s revenue but a decline in profits during the first half of the year. This was primarily attributed to a drop in gross profit margin in the US and a decrease in profits in China due to the impact of the Covid-19 pandemic. While the company aims to rebound in these markets, Europe remains a key region with significant growth potential.
Gentile boasts a strong track record in driving growth, having previously held leadership positions at Chloé, Burberry, and luxury conglomerate Kering. His experience includes global retail and wholesale operations, as well as overseeing markets in Europe, the Middle East, India, and Africa. Dinesh Tandon, the global CEO of Theory, has expressed confidence in Gentile’s abilities and believes his vast experience will be instrumental in driving the brand’s continued growth and expansion in the region.
Fast Retailing is strategically making executive changes to support the growth and development of its brands. By appointing Gentile as the new UK and Europe CEO for Theory, the company is taking a significant step towards achieving its goals in the region. The impact of Gentile’s leadership on Theory’s performance and market position remains to be seen, but optimism for success is high given his extensive background in the luxury sector. With Theory’s continued expansion in Europe, the brand’s focus on growth is expected to position it prominently within the fashion industry.
Useful links:
– Theory: Official website of Theory
– Fast Retailing: Official website of Fast Retailing
