Marco Bizzarri, Former CEO of Gucci, Founds Investment Firm

On April 2, Reuters revealed that Marco Bizzarri, former CEO of Gucci, has established a new investment firm.

Bizzarri left his position at Gucci in September, shortly after the departure of former Gucci creative director Alessandro Michele.

During his tenure, Bizzarri led Gucci to success, appointing Michele as chief designer and significantly boosting the brand’s sales to 9.6 billion euros (10 billion USD) in 2019.

However, Gucci’s parent company, Kering, has faced a severe predicament since Bizzarri left the brand. Kering’s stock plunged 14% on March 19 after the company warned that Gucci’s sales would fall 20% in the first quarter from a year earlier amid declining trade in Asia.

Bizzarri’s new venture, Nessifashion, was founded in Rome in February to provide strategic advice and invest in other companies. He is the sole owner of Nessifashion and already has an ownership stake through Nessi SRL, a stock company that owns stakes in real estate and restaurant businesses.