MILAN — Thailand’s Central Group has revealed management changes, promoting Pierluigi Cocchini, currently chief executive officer of Italian leading department store Rinascente, to CEO, Europe, a new position.
In the role, Cocchini is tasked with leading the strategic vision, steering growth and implementing cross-banner integration across the seven department store players Central Group owns and operates in the continent.
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In addition to Rinascente, they include KaDeWe in Germany, Globus in Switzerland, Illum in Denmark as well as Selfridges Group. The latter comprises the namesake department store network in the U.K., De Bijenkorf in the Netherlands, and Brown Thomas Arnotts in Ireland.
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In tandem with his appointment, the family-owned retail, real estate and hospitality conglomerate, said Giuseppe D’Amato, most recently Rinascente’s buying and merchandising director, has been promoted to the role of chief commercial officer Europe tasked with defining and executing a pan-European commercial strategy, across portfolio management, buying, marketing and retail media development.
D’Amato succeeds Chart Chirathivat in the role, as the latter was named chief strategy officer Europe to lead strategic partnership development with brands across the continent’s portfolio of retail banners and doors.
“These appointments reflect Central Group’s commitment to building a robust European leadership platform that supports sustainable growth, deepens strategic partnerships, and enhances the long-term value of its premium and luxury department store portfolio,” Central Group said in a statement.
Simultaneously, Mariella Elia’s role as managing director at Rinascente was expanded to that of European finance coordinator, with oversight of financial governance, reporting and performance monitoring across Globus, Rinascente, Illum and KaDeWe. In light of Cocchini’s new European role, Central Group will not replace the CEO position at Rinascente, relying on Elia’s expertise and role to lead the department store chain.
Selfridges Group CEO André Maeder will maintain his current role, as will Globus’ current managing director Lucia Guagliardi.
Thailand’s Central Group is exerting greater control over its European retail operations in recent years.
In 2024 it completed the acquisition of 100 percent of KaDeWe’s three department stores, while a year earlier it took control of Selfridges, which it purchased in 2022 alongside its joint venture partner Signa Holdings, a property investor and developer. After the latter’s collapse due to structural problems and a spike in interest rates, Central took a majority stake in Selfridges, and began hunting for another investor, which it found in Saudi Arabia’s Public Investment Fund, or PIF, which took a 40 percent stake in Selfridges.
Central owns properties across Southeast Asia and Europe. It planted its flag in Europe with the acquisition of Rinascente in 2011 and followed it up with the purchase of the Danish department store Illum in 2013. Central invested in the KaDeWe Group in 2015, and Globus in 2020.
Cocchini joined Rinascente in 2017, succeeding Alberto Baldan. Over the past nine years he has led Rinascente’s growth and evolution, overseeing the opening of a new unit on Rome’s Via del Tritone in 2017, as well as major renovation plans for its other flagships across the country. The department store brand operates nine units in Italy.
In particular the revamped Turin store was unveiled in 2019, while in 2020 Rinascente unveiled the revamped second banner in Rome located on Piazza Fiume and the Florence unit near Piazza della Signoria.
That year, it also completed the renovation of the three levels dedicated to women’s fashion of its crown jewel, the Milan flagship overlooking the Duomo cathedral. Rinascente also debuted an omnichannel strategy, which saw its brick-and-mortar stores working synergically with the digital platform.
In 2024 Rinascente announced it had signed a long-term rental agreement for a landmark location adjacent to its prime unit in Milan, with plans to turn it into a beauty destination for the Milanese crowd and tourists alike. Poised for completion by May 2027, the “Rinascente Odeon Beauty Hall” was supported by a 40 million euro investment, 10 million euros of which were earmarked for the renovation of the Milan store’s ground floor, currently dedicated to the beauty category.