THE WHAT? The CEO of Kiko Milano, Cristina Scocchia has resigned to take up a Chief Executive role at Illy, according to a report published by WWD. Her departure is effective December 31, 2021.
THE DETAILS The Italian cosmetics brand is yet to announce a successor.
“We are grateful to Cristina Scocchia for the important work she has done. It has ensured the relaunch of Kiko, leading it to grow and expand from 23 to 46 countries around the world, thus confirming its role as a recognized key player in the global cosmetics market,” commented Antonio Percassi, President of Kiko SpA, per WWD.
THE WHY? The brand has recovered ground lost in 2020, with sales up 18 percent on 2019 levels in Q3. Perhaps Scocchia, who was drafted in to rescue the flailing brand, considers her work there done. Scocchia told WWD, “I am proud of the objectives achieved and I thank my team for this, without which it would not have been possible to reach these ambitious goals.”