Mulberry CEO Thierry Andretta Has Stepped Down and Been Replaced by Ganni’s Andrea Baldo
Mulberry Group surprised the industry with the announcement that CEO Thierry Andretta is stepping down immediately, to be replaced by Andrea Baldo. Baldo, with over 20 years of experience in leading fashion brands, was most recently the CEO of Ganni.
Baldo’s track record includes positions at Coccinelle and Marni Group, where he improved sales and profitability. At Diesel, he held leadership roles, including COO of its US operation.
Chairman Chris Roberts expressed confidence in Baldo, saying,
Following our search process, it was clear that Andrea’s international fashion brand expertise, creativity and strategic thinking meant he was absolutely the right person for this role. I’d also like to thank Thierry for his contribution to the business.”
In its latest trading update, Mulberry reported a 4% decline in sales, with retail sales up internationally but down in the UK. Andretta acknowledged the challenges in the luxury market, anticipating continued difficulties in the short term.
The company’s full-year results for 2023 are pending, as its losses are expected to be revealed in the coming months.