MILAN – BasicNet and Permira on Tuesday collectively confirmed the appointment of Luca Lo Curzio as Ok-Means’s new chief govt officer. WWD was the primary to report that Lo Curzio was exiting his place as CEO of Jil Sander and was poised to hitch Ok-Means, citing market sources.
“I’m thrilled to have the chance to guide this iconic model into the longer term,” stated Lo Curzio. “Ok-Means’s wealthy heritage and powerful emotional reference to its prospects are actually outstanding. I’m trying ahead to collaborating with the Boglione household at BasicNet and the Permira group to additional improve the model’s world presence and ship revolutionary merchandise and experiences to our loyal prospects.”
That is the primary signal of a brand new course for the model below Permira, which final month stated it was investing in Ok-Means. The appointment of Lo Curzio is predicted to be efficient within the first quarter of 2025, as soon as the monetary operation is concluded.
Permira Progress Alternatives II, a fund managed by the worldwide funding agency, is shopping for a 40 p.c stake in French premium outerwear model Ok-Means from BasicNet, led by the Boglione household.
BasicNet will maintain the remaining 60 p.c stake. As per this settlement, Ok-Means’s enterprise worth, together with the IFRS 16 commonplace, is pegged at 505 million euros.
“We’re more than happy to have discovered a confirmed and profitable CEO of the calibre of Luca and we’re excited to see him driving Ok-Means going ahead,” Alessandro and Lorenzo Boglione, govt vice presidents of BasicNet and present co-CEOs of Ok-Means, stated in a joint assertion. “Luca is a real fan of the model, and he’s actually targeted on turning Ok-Means into a world model. We’re totally aligned when it comes to the journey going ahead and are trying ahead to seeing Luca take the enterprise to the following stage.”
Their father, Marco Boglione, founding father of BasicNet, acquired Ok-Means in 2004.
“From our first interplay with Luca, now we have shared the identical ambition for Ok-Means, being satisfied of its untapped potential to develop in each its home markets and in new worldwide territories, in addition to the chance to proceed its progress journey due to its robust emotional reference to a broad and various buyer base,” Francesco Pascalizi, companion and head of Italy at Permira, and Sebastien Floch principal and head of France at Permira, commented in the identical assertion. “We’re actually excited concerning the future prospect of the model below Luca’s management and sit up for working with him.”
Permira is predicted to help Ok-Means’s progress throughout its channels, with a specific emphasis on direct-to-consumer avenues, opening new shops, increasing its product vary, and fueling a global progress.
Ok-Means subsequent 12 months will mark its sixtieth anniversary, because it was based in 1965 by Léon-Claude Duhamel in Paris. Recognized for its packable, category-defining waterproof jacket, the Claude, with its distinctive colourful zip and brand impressed by the French flag, Ok-Means has established itself as an outdoor-inspired way of life model.
Lo Curzio in June final 12 months was named CEO of Jil Sander, managed by Renzo Rosso’s OTB Group.
Lo Curzio joined Jil Sander from the Ermenegildo Zegna Group, the place he arrived in 2016, initially as chief advertising and marketing and digital officer and rising by means of the ranks to develop into president and CEO of Ermenegildo Zegna North America.
Previous to Zegna, Lo Curzio labored for Luxottica Group, Bain & Firm, Danone and L’Oréal.
