The former chief executive of Alexander McQueen joins Milan-based Versace.
LONDON, United Kingdom — After 12 years as chief executive officer of Alexander McQueen, Jonathan Akeroyd has been appointed chief executive of Gianni Versace SpA. According to market reports, Akeroyd’s appointment is effective immediately, but he will take up his new role in mid-June.
Akeroyd succeeds Gian Giacomo Ferraris, who joined the brand in 2009, at a time when the company’s net financial position was a near €80 million loss on a turnover of €270 million. Under Ferraris, Versace grew at a compound annual growth rate of 17 percent from 2010 to 2015, posting revenues of €645 million and a 20 percent rise in core profit in 2015.
The family-owned brand, which sold a 20 percent stake to New York-based private equity firm Blackstone Group in February 2014, also has plans to list on the stock market. In November, Ferraris told BoF that an IPO will depend on market conditions, but “as soon as possible, we will do it.”
In March, the Milan-based company announced plans to invest more than €50 million in expanding its retail network and developing its e-commerce business, after its online sales increased by 31 percent in 2015.
Akeroyd, who began his career in retail as a store manager at Harrods in London, exited Alexander McQueen earlier this month and was succeeded by Emmanuel Gintzburger, former retail and wholesale director at Yves Saint Laurent.
During his time at the Kering-owned brand, Akeroyd oversaw significant expansion, including the rollout of accessories and fragrance lines and the launch of the McQ diffusion line in 2010. He also steered the brand through the death of its founding designer, and oversaw the appointment of Sarah Burton as creative director.
BoF will update this story as more details emerge.