The French fashion luxury company has announced that after the leave of Piombini a new chief executive officer will be appointed in February 2020.
Changes in Balmain. The chief executive officer of the French fashion luxury company until now, Massimo Piombini, leaves his post. Piombini joined the company in 2017, time in which he led the firm’s expansion process. Afterwards, he became part of the management board of Valentino.
During the period in which Piombini was Balmain’s chief executive officer, the company opened stores in Paris, Hong Kong, Moscow, Sao Paulo and Miami. The company also signed a deal to set up a new flagship store in New York, which is planned to open in the first semester of 2020.
“Under his leadership, the company has experienced a significant growth and organizational evolution, setting solid basis for further growth of the brand in the next years,” said Balmain in a statement.
Balmain has 45 stores around the world and is owned by the investment entity Mayhoola for Investments since 2016, after being bought for 537.7 million dollars (485 million euros).