Can Emilio Pucci be saved by its new head team?
One of the worst performing brands of the LVMH stable of luxury brands, Emilio Pucci appointed today Mauro Grimaldi (ex. Elie Saab) as its new CEO, replacing Laudomia Pucci who held the interim position of CEO after the departure, last year, of Alessandra Carra who, later joined as head of Agnona, the womenswear brand owned by the Ermenegildo Zegna Group. Pucci’s Commercial Director Paola Properzi Curti (ex Roberto Cavalli) also left the company joining Carra at Agnona.
Before Elie Saab, Grimaldi held various management positions at Salvatore Ferragamo, Valentino and Dolce&Gabbana. Grimaldi’s new appointment at Pucci follows the appointment of Massimo Giorgetti (ex MSGM) as Creative Director at Pucci, role which was temporarily held by Laudomia Pucci, a descendant of the founding family of the Florence based luxury fashion brand, after the departure, in March this year, of Peter Dundas. In June, Dundas joined Robero Cavalli as Creative Director, after the company was acquired by investment fund Clessidra.
LVMH does not report, individually, financial data for its brands, however, besides the unusually fast rotation of top management, the brand has been lacking a creative identity and has been slow on retail expansion. Pucci has also been lagging behind other LVMH fashion brands in terms of product development, especially accessories. Pucci’s most recent ‘marketing visibility’ has been a capsule collection with British swimwear company Orlebar Brown, for the Spring Summer 2015 season.