Copenhagen-based Ganni is bringing on new management from Balenciaga, as private-equity backer L Catterton eyes a path to a future exit. Balenciaga’s deputy CEO Laura du Rusquec will take the reins as chief govt of the Danish model, changing Andrea Baldo, in keeping with the corporate.
Baldo joined Ganni in 2018, shortly after L Catterton took a majority stake within the enterprise. He helped drive the model’s worldwide growth and develop income to only over €165 million ($175 million) in 2022.
However a sale course of begun the identical 12 months has since stalled, amid macroeconomic gyrations which have squeezed the up to date market the place Ganni is presently positioned. The corporate stated it continued to see restricted development in 2023, although its numbers are usually not but public.
Du Rusquec is a seasoned luxurious govt, with over a decade of expertise at Balenciaga and mum or dad firm Kering, and will assist Ganni, which calls itself a “progressive luxurious model,” push upmarket.
“Laura’s in depth expertise in EMEA and world markets with speciality in luxurious equips her with distinctive insights and methods, excellent for main Ganni into its subsequent part of development and model innovation,” stated L Catterton accomplice Eduardo Velasco in a press release.
Although Ganni is headquartered in Copenhagen, Du Rusquec will stay Paris-based and will additionally assist the model to create deeper connections with key gamers on the planet’s high vogue hub.
The goal is to raise the model with out sacrificing its core DNA, retaining its dynamism, boldness and dedication to accountable operations, defined Ganni co-founder Nicolaj Reffstrup. “Laura is the model in some ways,” he stated. “She’s the right personification of what we’re making an attempt to attain right here.”
