Dive Brief:
- Robert Triefus, most recently of Gucci, has been named CEO of Sportswear Company S.p.A., which makes casual menswear brand Stone Island.
- He will step into the role on June 1 and will report to Sportswear’s board of directors, chaired by Carlo Rivetti.
- The appointment was announced during an earnings call for parent company Moncler, which reported a 23% first quarter revenue increase, including a 5% increase for the Stone Island brand.
Dive Insight:
Triefus’ 15-year tenure at Gucci includes stints as CEO of Gucci Vault and Metaverse Ventures and senior executive vice president of corporate and brand strategy. Prior to that, he was executive vice president of brand and client engagement.
“I am delighted that Robert will be joining the Stone Island family,” Rivetti said in a news release. “I am convinced that his outstanding industry experience and deep knowledge of brand strategy, combined with the valuable contribution of the Stone Island team, will enable the brand to achieve its full potential. I look forward to working together to shape this next chapter of a brand with an extraordinary history and identity.”
It’s nearing the end of its first phase of development post-acquisition, which the company said focused on taking control of the markets it operates in and improving its direct-to-consumer operations, according to the earnings release.
In the first quarter, Moncler saw growth in the EMEA and the Americas, but its biggest jump was in the Asia region, up 31% year-over-year and driving about half of the company’s total revenue. The company attributed this drive primarily to China following its exit from lock down.
Triefus will lead Stone Island into its second phase of development, aimed at growing the brand’s international relevance.
“Robert will now be instrumental in driving the strategic development and resonance of the Stone Island brand worldwide, always capitalizing on its unique roots,” Remo Ruffini, chairman and CEO of Moncler SpA, said in the release on his hire.
The casual menswear brand has increased its visibility in the U.S. and is now known as a prominent streetwear brand. Part of this was due to rapper Drake’s frequent donning of the brand but also its collaborations with NikeLab and Supreme.
During Triefus’ tenure at Gucci, the luxury house experimented with metaverse capabilities, and his role leading Metaverse Ventures at Gucci last year was a new position, according to a report from Vogue Business.
In its most recent earnings, the Stone Island brand reported revenue of 121.6 million euros ($133.92 million) in the first quarter, up 5% from the same period last year.
