The Iconic searches for new CEO
The Iconic chief Patrick Schmidt has been appointed as the Co-CEO of parent company Global Fashion Group (GFG) alongside GFG Board member and AB Kinnevik investment director Christoph Barchewitz.
Schmidt will assume the position on 1 February, but will remain as CEO of The Iconic in addition to the new role until a successor is named later this year.
In addition to The Iconic, the Luxembourg-based GFG owns fashion and sports brands around the world, including Dafiti in South America, Namishi in the middle-east, Lamoda in eastern-Europe and Zalora in Southeast Asia.
GFG said Schmidt and Barchewitz will be responsible for the next chapter of the global fashion giant, focused on expanding its position in its markets, strengthening partnerships with international and local brands and further improving customer experience.
“When I joined The Iconic four and a half years ago, what I saw was a company with unlimited growth potential. Today, both Christoph and I see the same potential in GFG. I am deeply humbled by the opportunity to lead GFG with Christoph and look forward to working together. In addition to my new role, I will continue as CEO of THE ICONIC until a successor is named later this year, and its continued success will remain my utmost priority,” Schmidt said.
As GFG’s major shareholder Kinnevik has brought its new CEO Georgi Ganev onto the company’s Board as Barchewitz moves into a more hands on role.
“I am very excited to take on this new role and look forward to continue developing GFG, Kinnevik’s largest private asset, in this new capacity. With Patrick’s operational knowledge, and my experience from the Board of GFG and in e-commerce investing, I believe we have highly complementary skill sets to pursue the significant fashion e-commerce opportunity in GFG’s markets,” Barchewitz said.
The pair will replace outgoing CEO Romain Voog, who is stepping down after just over two-years in the role.
“Patrick and Christoph are the perfect fit for the next chapter of GFG,” said GFG’s Chairman Cynthia Gordon. “Patrick has built THE ICONIC, GFG’s business in Australia and New Zealand, into the market leader in the region, increasing revenue by eight times in four years. His deep operational knowledge and leadership track record will be a cornerstone of GFG’s success.”
The pair will inherit a business with market momentum, with GFG’s third quarter result showing that group net revenue increased by 21.1 per cent to $392 million.
The Iconic is one of the group’s strongest performing brands though, with net revenue growing by 28.5 per cent during Q3 2017.