Giuseppe Marscocci is the new chief executive of the Armani fashion house, appointed by the late designer who died in September. He will take up the new role immediately. Marscocci has been with the company for 23 years and for the last six has been global sales chief.
Giorgio Armani had full control of the empire he built 50 years ago, but a new structure is now being set up for the next phase. The 61-year-old will oversee the planned sale of 15% of the shares, which have priority to be given to LVMH, L’Oreal OREP.PA, EssilorLuxottica ESLX.PA or another “equal” group, as stated in Armani’s will.
“His international professional experience, deep knowledge of the sector and the company, his confidentiality, loyalty, team spirit, and his closeness to Armani in recent years, make Giuseppe the most natural choice to ensure continuity in the path outlined by the founder,” said Armani’s partner and head of menswear design, Pantaleo Dell’Orco.
Dell’Orco was most recently appointed to head the Giorgio Armani Foundation, which controls 30% of the voting rights in the business empire. He himself controls around 40% of the group’s voting rights.
Marsocci’s appointment was unanimously proposed by the Giorgio Armani Foundation. Armani’s niece Silvana, who heads womenswear, will take on the role of vice president.