- Cristiano Fagnani named CEO of Off-White; remains
responsible for the Reebok Business as CEO of NGG++
- Stephanie Phair appointed Chair of New Guards Group (NGG);
retains her role as Group President, FARFETCH
- NGG co-founders Davide De Giglio and Andrea Grilli step down
from their roles nearly four years after FARFETCH’s acquisition of
NGG
FARFETCH, the leading global platform for the luxury fashion
industry, today announced that Cristiano Fagnani has been named CEO
of Off-White and also remains responsible for NGG’s Reebok business
as CEO of NGG++.
Stephanie Phair has been appointed Chair of NGG. The company
also announced that NGG CEO, Davide De Giglio, along with his
co-founder, Executive Director and Off-White CEO, Andrea Grilli,
are stepping down from their roles. The existing leadership team
for Palm Angels remains unchanged; with Stefano Robino as General
Manager and Francesco Ragazzi as Founder and Creative Director. The
leadership of the other NGG brands remains unchanged as well.
Founded in 2015 and based in Milan, NGG manages the design,
production and distribution for a range of global brands, including
Palm Angels, Off-White and Reebok. It was acquired by FARFETCH in
2019.
Mr. Fagnani has over 20 years of industry experience, including
as Chief Marketing Officer for NGG where he worked closely with
Off-White. Prior to joining NGG more than three years ago, he had a
highly successful career at Nike, where he led Energy Marketing,
Brand Experience and Product Collaborations.
Stefano Robino has more than two decades of experience in the
luxury fashion industry, having held senior roles with brands
including Ami, Tom Ford, Zegna and Lanvin, prior to joining NGG
more than three years ago. Under Mr. Robino's leadership, the Palm
Angels brand more than doubled its revenues from 2020 to 2022.
Ms. Phair, who has been working closely with the NGG Group,
including as a member of the operational boards for the NGG brands,
will support the NGG leadership team toward achieving the goals set
out for the business and foster the continued successful
integration with the FARFETCH Group. She maintains her role as
Group President, FARFETCH. A seasoned luxury executive, she founded
TheOutnet.com while an executive at Net-a-Porter, and has held
roles with Issey Miyake and Vogue. Previously, the multi-lingual
Ms. Phair also served on the Board of Directors for Moncler S.p.A.,
and was the Chair of the British Fashion Council.
José Neves, Founder, CEO and Chair, FARFETCH, said:
“New Guards has performed extremely well since 2019, and has
continued to execute on its strategy with the recent launch of
Reebok. I would like to thank Davide and Andrea for their dedicated
leadership over the past four years, and for building a very strong
team of successors to continue driving the strategy and operations
of NGG. They leave with my fondest best wishes for their future
endeavours. With a very experienced management team in Cristiano,
Ib, Stefano and Francesco and the added benefit of Stephanie’s
oversight, I am confident in the continued success of NGG.”
Davide De Giglio said:
“As the co-founder of NGG, I take this moment to reflect on the
remarkable decade that has transpired since the inception of our
platform. This journey, filled with challenges, learnings, and
victories, has been nothing short of extraordinary. From an initial
idea to a leading light in the fashion world, NGG’s evolution has
been one of the most fulfilling experiences of my life. We've been
a symbol of innovation, creativity, and independence, setting
trends and collaborating with phenomenal talent. We are indebted to
FARFETCH, who recognized our potential and backed our ambitions.
Their acquisition has not just fostered our growth but has also
ensured our global presence and influence.
Today, after a beautiful ten-year journey, I step down from my
position at NGG. My heart is filled with gratitude for the
opportunities I have been given, the extraordinary individuals I
had the privilege to work with, and the collective successes we
achieved. I leave behind a resilient, dynamic, and robust group
that I'm confident will continue to flourish and uphold our shared
vision. I look forward with excitement to seeing where the next
decade will take NGG.”
Andrea Grilli said:
“Nine years, more than 800 employees, over 70 stores, customers
in more than 100 countries and over 170 collaborations and capsule
collections. Behind these numbers are endless emotions that can’t
really be summed up in a few lines. Contributing to the development
of NGG by helping the brands gain global visibility and respect in
the luxury industry since day one is a priceless experience because
it highlights all the efforts made by the wonderful people who I’ve
had the good fortune to work with.
NGG, today more than ever and thanks to the involvement and
support of FARFETCH, is in an incredible position. I wish them and
the team all the best and will carry this experience with me
forever.”
ENDS
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. We
intend such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements contained in
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All
statements contained in this release that do not relate to matters
of historical fact should be considered forward-looking statements,
including, without limitation, statements regarding the future
operational and financial performance of our New Guards Group
business, as well as statements that include the words “expect,”
“plan,” “aim,” “enable,” “believe,” or the negative of these terms
and similar statements of a future or forward-looking nature. These
forward-looking statements are based on management’s current
expectations. These statements are neither promises nor guarantees,
but involve known and unknown risks, uncertainties and other
important factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements, including, but not limited to the
important factors discussed under the caption “Risk Factors” in our
Annual Report on Form 20-F filed with the U.S. Securities and
Exchange Commission (“SEC”) for the fiscal year ended December 31,
2022, as such factors may be updated from time to time in our other
filings with the SEC, accessible on the SEC’s website at
www.sec.gov and on our website at http://farfetchinvestors.com. In
addition, we operate in a very competitive and rapidly changing
environment. New risks emerge from time to time. It is not possible
for our management to predict all risks, nor can we assess the
impact of all factors on our business or the extent to which any
factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements that we may make. In light of these risks, uncertainties
and assumptions, the forward-looking events and circumstances
discussed in this release are inherently uncertain and may not
occur, and actual results could differ materially and adversely
from those anticipated or implied in the forward-looking
statements. Accordingly, you should not rely upon forward-looking
statements as predictions of future events. In addition, the
forward-looking statements made in this release relate only to
events or information as of the date on which the statements are
made in this release. Except as required by law, we undertake no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise, after the date on which the statements are made or to
reflect the occurrence of unanticipated events.
About FARFETCH
Farfetch Limited is the leading global platform for the luxury
fashion industry. Founded in 2007 by José Neves for the love of
fashion, and launched in 2008, Farfetch began as an e-commerce
marketplace for luxury boutiques around the world. Today, the
Farfetch Marketplace connects customers in over 190 countries and
territories with items from more than 50 countries and over 1,400
of the world’s best brands, boutiques and department stores,
delivering a truly unique shopping experience and access to the
most extensive selection of luxury on a global platform. Farfetch’s
additional businesses include Browns and Stadium Goods, which offer
luxury products to consumers, and New Guards Group, a platform for
the development of global fashion brands. Farfetch offers its broad
range of consumer-facing channels and enterprise level solutions to
the luxury industry under its Luxury New Retail initiative. The
Luxury New Retail initiative also encompasses Farfetch Platform
Solutions, which services enterprise clients with e-commerce and
technology capabilities, and Future Retail, which develops
innovations such as our Connected Retail solutions.
For more information, please visit
www.farfetchinvestors.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230601005627/en/
Media Contacts: Susannah
Clark EVP Communications, FARFETCH Limited
susannah.clark@farfetch.com +44 7788 405224 Brunswick Group
farfetch@brunswickgroup.com US: +1 (212) 333 3810 UK: +44 (0) 207
404 5959 Investor Relations
Contact: Alice Ryder VP Investor Relations, FARFETCH
Limited ir@farfetch.com
Farfetch (NYSE:FTCH)
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