London-headquartered luxury retailer Matchesfashion has appointed the former boss of French department store group Printemps to lead the business.
Matchesfashion, which sells goods from brands such as Alexander McQueen and Jimmy Choo from its three London stores as well as online, said Paolo de Cesare will start as chief executive later this year.
The incoming boss previously spent 12 years as president and chief executive of Printemps Group where he upgraded stores and refocused on luxury brands. Prior to that he spent 24 years at Proctor & Gamble where he held various management positions.
Matchesfashion, which recorded sales of £430 million in year to January 2020 and has some 50 million visitors to its site annually, was previously led by Ajay Kavan.
The retailer was established in 1987 in the capital, and in 2017 the firm’s founders, husband and wife Ruth and Tom Chapman, sold a majority stake to funds advised by private-equity group Apax Partners.
Tom Hall at Apax Partners, who is also a member of the board of directors at Matchesfashion, said the new chief executive has “long and varied experience as a senior executive around the globe”.
The appointment comes at time when the luxury sector is experiencing a rebound in sales after initial disruption at the start of the pandemic.