Maison Margiela has announced Gaetano Sciuto has been appointed as its new CEO, succeeding Gianfranco Gianangeli. It was previously reported that Mr Gianangeli would be leaving the company by mutual decision.
A fashion industry veteran with over 30 years of experience in the luxury sectors, Mr Sciuto previously served as the CEO of Giorgio Armani Americas and held key roles at Fendi, including President of Fendi Americas and Global Licenses and Accessories Director, Sciuto will assume his new role on July 17, 2023.
In a statement OTB Group Chairman Renzo Rosso said “I am very attached to Maison Margiela, one of the fashion world’s most iconic brands. Stefano will take on great responsibilities and this appointment is an important step in his career. Stefano’s new role and Gaetano’s arrival will be decisive in boosting the potential of the brand and steering it into the next stage of its expansion,” said .
“We are delighted to welcome Stefano to the chairmanship of Maison Margiela and Gaetano to the OTB Group, a manager with enormous experience of the luxury business. I want to thank Gianfranco for his work over the years,” said OTB Group CEO Ubaldo Minelli.
Currently the CEO of Brave Virtual Xperience, a division of OTB focused on Web3 and the metaverse, Stefano Rosso is also a member of the OTB board. Both Sciuto and Rosso will report to Ubaldo Minelli, the CEO of OTB.
Under the creative direction of John Galliano since 2014, Maison Margiela has experienced strong sales growth, with a 24 percent increase compared to the previous year. This performance is in line with the broader success of the OTB group's luxury sector, which includes brands like Jil Sander and Marni. OTB closed 2022 with a turnover exceeding 1.74 billion euros, representing a 14 percent increase from the previous year and growth of 32 percent compared to 2012 and 103 percent compared to 2019.