Desigual post-Eurazeo: the company appoints Alberto Ojinaga managing director

Desigual changes following Eurazeo’s exit. The Spanish company, currently controlled by Thomas Meyer with a 100% stake, has restructured its senior management with the appointment of Alberto Ojinaga as managing director. At the same time, the group has changed its business units, leaving aside distribution channels to be organized by geographic areas.

In early 2016, Desigual created a double-headed structure with the appointment of Alberto Ojinaga and Pierre Cuilleret as chief corporate officer and chief client officer, respectively. A few months later, Cuilleret abandoned the company and his position was occupied by David Meire, who had a long career in the industry after working for brands such as Nike.

Last Friday, Desigual communicated to its workforce a new senior management team reshuffle, through which Ojinaga, who formerly worked at supermarket chain Caprabo, assumes the managing director role. He’ll supervise the marketing, product, human resources, finance, client and operations’ departments. Meire will keep all his responsibilities as chief client officer, but reporting to Ojinaga from now onwards.

Desigual created a double-headed structure in 2016 with Alberto Ojinaga and Pierre Cuilleret, who was replaced at a later time by David Meire

In parallel, the Barcelona-based group has decided to organize its teams by geographical areas instead of distribution channels. In doing so, Desigual reflects on its business units the strategy shift implemented in the last few years, which focused on a simplification of all distribution channels.  

Last month, Desigual announced that Thomas Meyer reacquired the 10% stake in the company owned by French private equity fund Eurazeo since 2014. At that time, Eurazeo paid 300 million euros to become a shareholder, as the group was expanding strongly.

The fund’s exit follows Desigual’s weak performance during the last few years. Shortly after Eurazeo’s entrance as a shareholder, the company’s sales started to fall and it led to a transformation process, still underway.

Desigual, founded in Barcelona in 1984, is present in nearly a hundred countries and operates with more than 500 monobrand stores, as well as an extended wholesale distribution. The company employs more than 4,500 people and ended the first half of fiscal 2018 with sales of 323 million euros, 14.5% less than in the same period of 2017.