Farfetch on Thursday shared a number of executive changes at New Guards Group (NGG), including the appointment of a new Off-White™ CEO and the departure of the company’s co-founders.
NGG co-founders Davide De Giglio and Andrea Grilli, who served as CEO of NGG and CEO of Off-Whiteâ„¢ respectively, officially exited the fashion production and distribution label.
In De Giglio’s place, Farfetch group president Stephanie Phair will step in as chair of NGG. And at Off-White™, NGG’s chief marketing officer Cristiano Fagnani will assume the role of CEO. In addition to leading the Virgil Abloh-founded luxury streetwear label, Fagnani will oversee Farfetch’s newly-announced partnership with Reebok. Executive teams at NGG’s other brands will remain the same.
In a statement, Farfetch founder and CEO José Neves said that NGG has “performed extremely well†since it was acquired by Farfetch in 2019. He added, “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.â€
The company’s leadership changes follow Farfetch’s recent partnership with Authentic Brands Group, which saw NGG take over Reebok’s branded retail stores, e-commerce operations and wholesale distribution in Europe. Neves called the deal a “multi-hundred-million-dollar†opportunity for Farfetch.
“With a very experienced management team … and the added benefit of Stephanie’s oversight, I am confident in the continued success of NGG,†said Neves.
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