The British luxury group Stella McCartney has appointed as new CEO Gabriele Maggio, former general manager at Moschino and with a professional career in Gucci and Bottega Veneta. He has a long career in the fashion industry. Besides working in Moschino, Maggio has held roles in Gucci and Bottega Venetta, both owned by Kering. He will join his position on October 21 replacing Frederick Lukoff leaving the company in June to join Scotch & Soda as CEO.
Maggio joins a couple of months after the company signed a deal with LVMH. The luxury holding bought a stake of the designer’s company last June after Stella McCartney ended its 15-year-old relationship with Kering. The goal of this partnership is to accelerate Stella McCartney’s worldwide development in terms of business and strategy, while of course remaining faithful to its long-lasting commitment to sustainable and ethical luxury fashion.
As part of the deal, Stella McCartney joined the managing team at LVMH as consultant for Bernard Arnault in terms of sustainability. Arnault appointed that this was a decisive factor for the acquisition.
Stella McCartney held a 50-50 joint venture with Kering until last year, when the designer bought back 100% of the company. The move was also part of Kering divestment in non-strategic businesses to focus on Gucci and fast-growing brands like Saint Laurent and Bottega Veneta.