Just days after the shock exit of creative director Jeremy Scott, Moschino has now announced that its general manager, Stefano Secchi, will also be stepping down from the brand.
The company and Secchi mutually agreed on the split, a press release read, with the move to come into effect March 31.
It appears the decision was made based on differing views over the strategic vision for Moschino.
Speaking on the departure, Massimo Ferretti, executive chairman of Moschino's parent company Aeffe, said: “I would like to thank Stefano Secchi for his professional contribution until today. We wish Mr. Secchi all success in his future career.”
Stepping into Secchi’s place will be Aeffe executive Goffredo Palmerini, who has been tasked with brand managerial and operational continuity.
Palmerini has already held managerial roles in several Italian and foreign companies in the Aeffe Group.
Meanwhile, Aeffe has agreed to pay Secchi 317,000 euros gross as termination incentive and 1,000 euros gross by way of settlement.
Secchi first joined the Italian brand in autumn 2019, succeeding Gabriele Maggio and bringing with him a wealth of experience in the luxury market, previously holding leadership positions at the likes of Etro and Versace.
His exit comes as the Aeffe Board also announced the absorption of the wholly-owned subsidiaries Moschino SpA and Aeffe Retail SpA as part of its corporate capitalisation and reorganisation process.
Through this strategy, the group said it hopes to enhance the operational efficiency and coordination of its activities and coordination, as well as save costs of the companies in question.