New Guards Group Founders Exit, Cristiano Fagnani Named Off-White CEO
New Guards Group Thursday announced a series of management reshuffles.
Company chief executive officer Davide De Giglio and his cofounder, executive director and Off-White CEO Andrea Grilli have stepped down from their roles.
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Cristiano Fagnani has succeeded Grilli as Off-White CEO, and he remains responsible for the Reebok European partnership as CEO of the newly launched NGG++. A Nike veteran for two decades, Fagnani joined New Guards Group in January 2020 as chief marketing officer.
Fagnani said he felt “honored to have been part of the journey they so cleverly designed. I am privileged to take on their legacy and lead Off-White into the future.”
Stephanie Phair, who was promoted to group president of Farfetch last September, has been appointed chair of New Guards Group.
Farfetch acquired New Guards Group, for $675 million in 2019. NGG is home to 11 international brands: Marcelo Burlon County of Milan, Palm Angels, Unravel Project, Heron Preston, Alanui, Kirin Peggy Gou, Ambush and There Was One. It is also the licensee of Off-White.
Farfetch said the existing leadership team at 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.
José Neves, founder, CEO and chair at Farfetch, thanked De Giglio and Grilli’s “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 endeavors. With a very experienced management team in Fagnani, Ib Kamara, Robino and Ragazzi and the added benefit of Phair’s oversight, I am confident in the continued success of NGG,” Neves added.
Commenting on his exit, De Giglio said, “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.
“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.”
Grilli added that “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.”
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