Elisabetta Franchi Bids Farewell to CEO Following President’s Departure

Elisabetta Franchi is saying goodbye to its CEO and president in less than two months. The Italian women’s fashion company has announced the departure of CEO Gabriele Maggio, who joined at the beginning of 2024. In September, it was president Marco Bizzarri who left the company.

As released by the company in a statement, Elisabetta Franchi believes that the decision is aimed at “ensuring management continuity, operational efficiency and strategic development of the business.“ The name of the CEO’s successor has not yet been announced.

Maggio joined Elisabetta Franchi in February 2024. He has a track record of more than 25 years in the fashion industry. He previously served as president and CEO of Stella McCartney, a position he left in December 2023, after four years at the helm of the brand. Prior to McCartney, Maggio was CEO of Moschino and also held various executive and board positions at Gucci and Bottega Veneta. His professional experience also includes stints at Giorgio Armani and Prada.

Maggio was President and CEO of Stella McCartney, as well as CEO of Moschino, and held executive positions at Gucci and Bottega Veneta

Meanwhile, Marco Bizzarri stepped down as chairman at the end of September, after divesting his 23% stake in the company in July, acquired through the Nessifashion holding company. Bizzarri is a former chairman and CEO of Gucci and is also an investor in Forel, which in 2024 signed an agreement on behalf of the Faro fund to acquire a majority stake in Italian luxury interior design brand Visionnaire.

Franchi founded the firm that bears his name in 1998 and has since expanded its network of stores internationally, with the opening of its first boutique in the United States at the end of last year. In the U.S., the company also landed at Saks Fifth Avenue with the spring 2025 collection in stores including New York, Beverly Hills and Houston. In April, it opened its Milan flagship on Via Manzoni during Design Week.

According to the latest available data, the Betty Blue company closed 2019 with a turnover of €120.4 million, 4.7% more than in 2018. In the period, the company reduced its net profit by 2.2%, to €14.7 million.