Swiss luxury group Richemont has made significant changes to its top management positions, signaling a strategic move to strengthen its fashion and accessories divisions. Philippe Fortunato, head of the group’s fashion & accessories division, has announced the appointment of Laurent Malecaze as the new CEO of Dunhill. Additionally, Mauro Grimaldi, former CEO of Le Printemps, has been appointed as a strategic advisor and will oversee AZ Factory, which Malecaze previously led.
Malecaze’s arrival at AZ Factory in October 2020 was marked by his instrumental role in the successful launch of the fashion start-up founded by designer Alber Elbaz. With Malecaze’s departure during a transitional period following the passing of Elbaz in April 2021, Dunhill gains a skilled and experienced executive. Malecaze’s background includes key positions at consulting firm Bain & Company, luxury e-tailer The Webster (where he served as COO and later president), and managing director in 2019. Holding a degree from the well-regarded HEC business school in Paris, Malecaze’s entrepreneurial expertise and data-driven approach are expected to drive Dunhill’s new phase under his leadership.
Philippe Fortunato expressed utmost confidence in Malecaze, highlighting his ability to establish a strong design identity at AZ Factory through his data-driven approach. Fortunato considers Malecaze the ideal candidate to lead Dunhill into a new chapter, succeeding Andrew Maag.
Meanwhile, Mauro Grimaldi’s appointment as a strategic advisor to Fortunato further strengthens Richemont’s management team. Grimaldi will primarily oversee the day-to-day operations of AZ Factory. With a rich background in the luxury industry, Grimaldi served as the global CEO of department store group Le Printemps in 2020. Prior to that, he held various leadership positions at renowned brands such as Tod’s, Dolce & Gabbana, Valentino, Salvatore Ferragamo, Elie Saab, and Emilio Pucci. Grimaldi’s extensive experience and strategic insights are expected to contribute significantly to the growth and success of AZ Factory.
These management changes reflect Richemont’s commitment to navigating the evolving luxury market effectively. By appointing Malecaze and Grimaldi to key positions, the Swiss luxury group aims to position itself for growth and success in the fashion sector. The leadership and expertise of these experienced executives are expected to bring tremendous benefits to both Dunhill and AZ Factory.
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