Victoria Beckham appoints new chief executive

Luxury womenswear brand Victoria Beckham has named former Diane Von Furstenberg CEO Paolo Riva as its new chief executive.

Riva, who left Diane Von Furstenberg in 2016 after 18-months as chief executive, will join Victoria Beckham in September, succeeding Zach Duane who left last year.

In a statement from the British fashion label, it said that Riva would “work closely” with Victoria Beckham and the board to “drive” the brand’s strategic geographical and product expansion and help increase the company’s direct-to-consumer ambitions.

Riva has more than 16 years of leadership experience in the luxury sector, having worked with brands including Salvatore Ferragamo, Valentino, and Tory Burch, as well as most recently, Diane Von Furstenberg. In 2017, he set up his own consulting business, Paolo Riva Consulting and has been focusing on partnering with US and international companies on a range of projects, from brand strategy and positioning to turnaround plans.

Commenting on his new role, Riva said in a press release: “The Victoria Beckham brand presents a unique and exciting opportunity, no one has been better than Victoria at embracing the digital revolution and using it to influence tastes by channelling her vision direct to consumers.

“I am looking forward to working with Victoria and her team as we continue to develop a pioneering consumer-led business.”

Victoria Beckham Limited names Paolo Riva as chief executive

Victoria Beckham added: “I am thrilled to welcome Paolo to Victoria Beckham. He joins the team as we enter our second decade and his wealth of experience, drive and creativity will be fundamental in helping us continue our expansion as a global brand.”

Riva’s appointment follows the arrival of Ralph Toledano as the brand’s new chairman, who joined the business in March 2018, and the 30 million pounds invested last December from Neo Investment Partners.

Both appointments come as the brand celebrates its 10th anniversary, which will be highlighted when it showcases its spring/summer 2019 collection during London Fashion Week in September.

The brand has come along way since launching in 2008, it now comprises of multiple categories including ready-to-wear, accessories, footwear and eyewear, as well as sister line, Victoria, Victoria Beckham. It also has two standalone flagship stores in London and Hong Kong and more than 400 stockists in over 50 countries including in Asia, which the brand has highlighted as a “key focus area” for the company.

Victoria Beckham reported global revenues for the year ending December 2016 of 36 million pounds, while full year 2017 revenues showed double-digit growth year-on-year.

Image: courtesy of Victoria Beckham