Loro Piana Taps Luxury Veteran as Chief Commercial Officer
Loro Piana has named Marco Giacometti its new chief commercial officer, luxury goods, and tasked him with bringing faster growth and market-share gains.
Giacometti started in the role May 2 and represents the first big management appointment by Damien Bertrand, who left his role as managing director at Christian Dior Couture last October to become chief executive officer of Loro Piana.
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Giacometti has taken up responsibilities previously handled by Jean-Baptiste Debains, who has held the title of managing director, retail and wholesale, for the last six years.
In an internal announcement seen by WWD, Loro Piana said Debains is leaving the Italian brand, synonymous with luxury fabrics and quiet chic, to “take on new professional challenges within the LMVH Group.”
Those weren’t identified, though market sources said Debains will become president of Christian Dior Couture, Asia-Pacific. Debains is to work alongside Giacometti at Loro Piana until May 31 “in this transition period,” the announcement noted.
The executive shuffle underscores the stockpile of well-rounded management talent within LVMH Moët Hennessy Louis Vuitton, parent of Dior, Loro Piana, Fendi, Givenchy, Louis Vuitton, Loewe and a host of other brands in fashion and leather goods, perfumes and cosmetics, watches and jewelry, selective retail, hospitality and wines and spirits.
In the announcement, Bertrand lauded Debains for “making our business develop more rapidly, while reinforcing the presence of our stores worldwide. He has managed to bring the group’s know-how in the Loro Piana world and to promote collaboration between the headquarter and the markets.”
Debain and his successor have had long careers in the group.
According to his LinkedIn profile, Debains was managing director, retail and wholesale, at Fendi before joining Loro Piana in 2016. Before that, he held a number of positions at Louis Vuitton over almost 15 years, the last one being president of Asia Pacific.
Giacometti started his career at Tod’s in 1999, rising through the ranks in North America to become global e-commerce director. In 2013, he joined Fendi as general manager for France, Swiss, Benelux and Czech Republic, and was later appointed president and CEO of Japan and, in 2016, president of Asia Pacific.
Related to the management change, Loro Piana’s central merchandising and retail visual director, Roberta Pugliese, will now report to Bertrand.
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