Gucci, the iconic Italian luxury brand, has recently announced some major changes within its senior management team. The brand’s global communication director role has been given to Beniamino Marini, while Gianfilippo Testa has returned to Europe after successfully leading Gucci’s business in Greater China.
Testa brings a wealth of experience to his new role, having spent 12 years at Fendi and eventually serving as president Greater China. His move to the EMEAIR region, encompassing markets like India and Russia, marks a significant shift in Gucci’s leadership structure. Giovanni Baldi, a longstanding member of the Gucci team, has been overseeing this region since 2015, with Testa now sharing some responsibilities following his relocation.
Interestingly, Testa has also been handling Gucci’s subsidiaries in the UK and France, according to official documents filed in those countries. When asked for further details about Testa’s expanded role, Gucci declined to provide specific information.
Baldi, originally starting as a senior auditor at Ernst & Young, joined the Gucci group in 2000. Over the years, he progressed through various roles within the organization before eventually becoming the CFO of the EMEAI region in 2011 and assuming the role of president of the extended EMEAIR region in 2015.
Under the guidance of president and CEO Marco Bizzarri, Gucci navigated a slightly slower growth pace in 2019 compared to previous years. Despite this, the brand managed to achieve a revenue increase of 13.3% from July to September, with a 10.7% rise in like-for-like terms. In 2018, Gucci reported revenues of €8.8 billion.
These strategic management changes at Gucci coincide with the brand’s continuous evolution and expansion across global markets. It will be intriguing to observe how these shifts influence Gucci’s future growth trajectory and continued success.
To learn more about Gucci’s latest news and developments, visit their official website here. For further insights on luxury fashion industry trends, read this informative article here.
