US private equity giant Carlyle is reportedly lining up former Gucci chief executive Patrizio di Marco to become chair of British luxury, streetwear and sportswear retailer End. Clothing.
Di Marco, who spent six years at the helm of Gucci before exiting in 2015, will join End.Clothing in the coming months, Sky News reports.
Since leaving the Italian luxury label, di Marco joined the board of Dolce & Gabbana and in September 2018 was appointed chair of luxury shoe brand Golden Goose, a role he held until exiting the company last year.
End.Clothing eyes international expansion
End.Clothing was founded in 2005 in Newcastle by uni graduates Christiaan Ashworth and John Parker.
In March of this year, the founding pair sold a majority stake to Carlyle for 750 million pounds. They remain at the company as co-CEOs and retain a significant minority stake.
Ashworth and Parker said in a joint statement at the time: “We are thrilled to welcome Carlyle as our new partner. Their experience and strong track record in luxury and streetwear will be invaluable to us in supporting End.Clothing’s long-term and sustainable growth strategy.
“Carlyle’s industry knowledge and truly global platform will be instrumental as End.Clothing continues to reach an increasingly international audience.”
As of March, End.Clothing employs more than 650 people in the UK and ships to over 100 countries worldwide.
In the year to 31 March 2020, the retailer generated revenues of 170 million pounds, 65 percent of which was related to sales outside the UK.
Carlyle said its investment will help the business expand both within its home UK market as well as further afield.