Desigual and CEO
Manel Jadraque part ways
Officially, of course, it’s a joint decision. Manel Jadraque has stepped down from his role as CEO of Desigual, while Thomas Meyer, the labels founder and a major shareholder, will take over the reins.
Jadraque was appointed CEO of the Spanish brand two years ago, succeeding Manel Adell, who had organized the company with the initial goal of reaching half a billion euros in sales. Two executives close to Jadraque have also recently left: Carlos Maiz, head of footwear, and José Armillas, who was more involved with products and also in charge of the brand’s recent collaboration with the designer (not the brand) Christian Lacroix.
This departure also comes a year after the investment company Eurazeo acquired a 10% stake in Desigual. According to an internal source, the brand’s retail growth derives exclusively from new openings. In 2014, the brand, which is known for its bright colors, saw sales jump by more than 16% to almost one billion euros. But its net profit was up by only 3% to 135 million euros.
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