Luxury brand Marni has appointed Stefano Rosso to the role of chief executive officer, as parent company OTB Group looks to bolster the Italian house.
SEE ALSO: Maison Margiela owner OTB clocks 7 percent sales uptick in 2023, APAC soars 74 percent
Rosso will report to Ubaldo Minelli, CEO of OTB, which also owns Diesel, Jil Sander, Maison Margiela and Viktor & Rolf, and replaces Barbara Calò as CEO of Marni.
Rosso, the son of Renzo Rosso, president and founder of OTB, is currently chairman of Maison Margiela and CEO of Brave Virtual Xperience (BVX), an OTB unit that develops products for the virtual world. He is also a board member of the Aura Blockchain Consortium, a non-profit organisation offering blockchain solutions to luxury brands, of which OTB Group is a founding member. Rosso also co-founded gaming community platform D-Cave, where he serves as CEO.
“By appointing Stefano as Marni CEO, we wanted to strengthen the leadership of a brand that is a fundamental driver for the growth of the entire OTB Group,” said Minelli in a statement.
“Marni still has great potential to be explored and we are convinced that Stefano is the right person to take it forward. I want to thank Barbara Calò for leading Marni’s development in the last few years and for her work in our group.”
In 2023, OTB Group reported a turnover of EUR 1.9 billion (USD 2.05 billion) in 2023, up 10.2 percent, as the owner of Maison Margiela and Diesel brands saw Asia-Pacific sales skyrocket by high double-digits.
By brand, Marni revenues rose by 8.6% last year. During the year, the label opened 16 new stores and renewed its beauty licence with Coty for a 20-year term.
“Marni is a unique brand that has built a solid global positioning in the last few years and is followed by a special community of creatives, artists and brand lovers all over the world,” said Renzo Rosso.
“Stefano will have the important responsibility of fast tracking Marni’s positioning on the luxury market and the new post is a further step forward in his professional career. I believe that his international experience and innovative vision will prove decisive in raising Marni’s iconic profile and reaching an even broader audience.”