End Clothing, Backed By Carlyle, Aligns Former Gucci Di Marco Chief For Fashion Growth Spurt | Economic news
A former Gucci boss is aligned with Carlyle, the global buyout giant, to shape a new growth spurt at End, the UK online clothing company he bought this year.
Sky News understands that Patrizio di Marco, who left Gucci in 2014 and then spent time with Dolce & Gabbana, another famous Italian fashion house, will join End in the coming months as chairman.
His appointment will be a coup for End, whose shareholders had to toast at a Â£ 750million sale to Carlyle in March.
Christiaan Ashworth and John Parker, who started End Clothing in 2005 after graduating from Newcastle University, sold a controlling stake but retained an economic interest and remained co-managing directors.
End was started as a menswear store in Newcastle, before launching the e-commerce business which became the growth engine of the company in 2006.
She sells luxury brands online, including Givenchy, Valentino and Mr. di Marco’s former company, Gucci.
His appointment to End will reunite Mr. di Marco with Carlyle, for whom he was president of luxury brand Golden Goose.
The sale of Golden Goose to Permira resulted in a return of more than 3.5 times Carlyle’s initial investment, making it one of the private equity firm’s most lucrative consumer goods deals.
End, which now also trades from a store in Soho, London, has partnerships with over 500 brands and sells in over 100 countries.
Carlyle declined to comment on Sunday.