Ganni, the clean-cut Danish hipster label, has named the former Balenciaga executive Laura du Rusquec to be its new CEO in a significant shift of emphasis at the brand.
“Laura’s extensive experience in EMEA and global markets with specialty in luxury equips her with unique insights and strategies, ideal for leading Ganni into its next phase of growth and brand innovation,” said Eduardo Velasco, Partner at L Catterton, the private equity stake that acquired control of Ganni in 2017.
Laura du Rusquec will bring to Ganni a rich history in luxury fashion management, having held influential positions at luxury marques like Gucci and Balenciaga, Ganni noted in a release.
“I am thrilled to join Ganni at such a pivotal time and to continue building on the brand’s strong foundation. Ganni’s commitment to innovation, sustainability, and their progressive approach to luxury is exactly what the future of fashion needs. I look forward to leading the talented team toward new heights and further global expansion,” said du Rusquec.
She replaces Andrea Baldo, who was Ganni CEO for the past five years. Under his leadership, the brand achieved annual double-digit growth while significantly expanding its international retail presence across Europe, Asia, and the US. The Copenhagen-based marque operates more than 45 standalone stores.
“Andrea has been an integral part of Ganni’s journey, steering us through both challenges and
opportunities with unmatched dedication. His vision has been crucial in shaping what Ganni is today. We are immensely thankful for his leadership and wish him the best in his future endeavors,” said Nicolaj Reffstrup, who funded Ganni – the world’s leading Scandi fashion brand – with his wife and creative director Ditte Reffstrup back in 2000.
That said, the appointment will be seen as recognition that Ganni has not performed to an optimum level. Back in January 2022, it was reported that L Catterton was planning to sell Ganni for $700 million and had hired Lazard Bank to complete the deal. Nothing came of that report by Reuters. The new appointment would appear to be designed to reposition Ganni higher up the luxury totem pole.
Moreover, the house was rather surprisingly revealed that du Rusquec will be based out of the Ganni office in Paris, albeit maintaining close operational ties with the brand’s headquarters in Copenhagen.
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