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Another day, another fashion C-suite shake-up. The latest is from Diane von Furstenberg. The American designer best known for her iconic wrap dress has appointed ex-Armani and Prada exec Graziano de Boni as the brand’s new CEO, replacing Gabby Hirata, who stepped down in June 2023.
Although de Boni has been with DVF since October 2023, he was primarily hired to oversee product and brand strategy. In addition to the CEO appointment, the brand also announced it will be taking its global business operations in-house.
The retailer hopes for a turnaround while continuing to battle declining sales. After adopting a digital-first strategy in 2020, "the company generated profit for the first time in over a decade," BoF reported. At the time, China-based Glamel Trading Limited managed manufacturing and merchandising.
“Regaining control of the design and narrative of our brand was the first necessary step to reimagining our business model for the future,” de Boni said in a statement.
It appears to be the season for experimentation for fashion labels, in terms of both strategy and executive reshuffles as the industry tries to navigate dampening consumer interest and sales declines.
At Burberry, for instance, Joshua Schulman was tapped as the new CEO in July, abruptly replacing Jonathan Akeroyd. The decision followed flagging sales in Q1, and the share price dropped on the news. In 2022, Akeroyd tried to shake up the brand’s strategy by bringing in former Bottega Veneta designer Daniel Lee as CCO, who was tasked with bringing back the brand’s quintessential “Britishness.” But this May, the label reported a 34% YoY profit decline, and in June, it announced layoffs.
And then last month, creative director Peter Hawkings exited his position at Tom Ford after just a year.