Clothing brand Diesel has named Patrick Valeo as CEO of its North America unit.
Valeo succeeds Stefano Rosso who will remain on the board of directors of parent company OTB, which also owns the Viktor & Rolf, Marni, and Maison Margiela brands.
Valeo has held positions at Dolce & Gabbana, where he served as president and COO of the SMCP brands, and at Gucci Americas where he was vice president of retail.
His last position was as president of the Americas and global head of commercial sales at MCM.
In its full-year results announcement, OTB said turnover was up 6.4% on the previous year at EUR1.53bn (US$1.67bn). Consolidated EBITDA was EUR190m and EBIT was “positive” at EUR18m, “with a significant change in trend” compared to the previous year.
In March last year, the US arm of Diesel filed for bankruptcy protection after racking up as much as US$50m in debt. It said the move would allow the company to reorganise while continuing its day-to-day operations.
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