December 19, 2017 by Chris Kilkus
Diesel Appoints New Ceo
MILAN — Diesel has tapped Marco Agnolin as its new chief executive officer, effective January. Agnolin joins Diesel from a seven-year stint at Bershka, controlled by Spanish retail giant Inditex. Agnolin succeeds Alessandro Bogliolo, who left for Tiffany & Co. in October.
Diesel is going through a phase of changes. As reported on Monday, artistic director Nicola Formichetti is exiting after four years at the company.
In 2016, Diesel’s revenues totaled 960 million euros, representing about 60 percent of parent company OTB’s sales, but for the first time it operated at a loss, dented by business in Europe and the U.S., as well as in Hong Kong. Diesel was impacted last year by the repositioning of the brand and its more selective distribution, which led to a “voluntary reduction” of sales amounting to 200 million euros.