NEW YORK — Giorgio Armani is reorganizing its American house.
Following the resignations of two key executives, the Armani Group is expected to name today Matteo Mascazzini chief operating officer of its wholly-owned U.S. subsidiary, Giorgio Armani Corp., effective March 1. Mascazzini is now chief financial officer of Giorgio Armani Japan and chief executive officer of Giorgio Armani Australia. He succeeds Roberto Pesaro, who will leave the company on February 28 to pursue other interests.
The company said it will make an announcement in the near future regarding the position of president of sales and marketing at Giorgio Armani Corp., which will be vacated by Gaetano Sallorenzo at the end of the month. Sallorenzo is leaving Armani to become president and chief executive officer of ck Calvin Klein sportswear and ck jeans for Europe and Asia, a post he will assume next month.
“The management reorganization we are announcing today will help to ensure continued expansion of our business in the U.S., the Armani Group’s most important marketplace in terms of both wholesale and consolidated revenues,” said Giorgio Armani, president and chief executive officer of the Armani Group. “We thank Roberto Pesaro and Gaetano Sallorenzo for their respective contributions over the last four years.”
Armani’s U.S. business has been run by Pesaro and Sallorenzo since 2001. Pesaro, who joined Armani in 2001, said on Friday, “I am exploring some options here and in Europe.”
According to sources, Armani’s U.S. business accounts for 25 percent of the firm’s global sales. Armani continues to expand in the U.S. by renovating its in-store shops and rolling out Armani Casa in North America. “We will obviously have a hotel in New York,” the spokesman said. Armani has a partnership with Dubai-based EMAAR Hotels & Resorts.
“As we build out our lifestyle strategy through Armani Casa, the hotels and the expansion of our accessories business we want to make sure we have a strong management team in place,” the spokesman said. “This underscores the importance of the American market.”