Why Marco Bizzarri is the market’s most wanted

«If he manages to establish a retail network in China and the US as expected, Elisabetta Franchi’s revenue could quickly reach a billion euros», two managers from listed companies who wished to remain anonymous explained. They were referring to Marco Bizzarri, a manager and entrepreneur whose return to the fashion and financial industries has been the subject of speculation since he left Gucci on July 18, 2023, with his exit taking effect in September. In just one month, Bizzarri has already made headlines with four separate operations, and he is just getting started. Why is he in such high demand?

«The remarkable results he achieved with Alessandro Michele and Jacopo Venturini, bringing Gucci’s revenue from 3.5 billion in 2014 to 10.5 billion in 2022, make Bizzarri an incredibly attractive figure since he left Kering», Chiara Berlendi, Principal at Heidrick & struggles Italy for luxury, fashion, and design industries, explains to MFF. «He and his team tripled the Company’s size, marking the first time an Italian brand achieved such growth». What is the secret to his success? «He managed to balance business and financial goals without sacrificing fashion and its artistic nature. Together with his team, he redefined Gucci’s identity, attracting a new generation of young people who embraced the Brand’s values and formed an inclusive and creative community», Berlendi adds. «Bizzarri revitalized a historic Italian brand and wrote a new chapter in the fashion industry. He will always be remembered for this, and now he is embarking on a new journey as an investment firm, which could inspire others to do the same».

Less than a month ago, Bizzarri outlined his future plans, announcing on April 4 that his new venture, Nessifashion, would invest in Elisabetta Franchi, a Bologna-based brand with 170 million euros in revenue in 2023. «This new chapter in my career will focus on investing in valuable companies and human resources», Bizzarri explained, having taken a stake in the Company that could increase to 23%. Elisabetta Franchi had intended to launch an IPO on the AIM segment of the Italian stock exchange for small-cap companies in 2020, but the project was put on hold due to the pandemic. The Brand, with 85 single-brand stores, generates over 50% of its revenue in Italy and almost exclusively in the EU for the rest. Thanks to Bizzarri’s involvement (along with CEO Gabriele Maggio, who previously led Moschino and Stella McCartney, ed.), the Company might now reconsider going public.

«If a listing process begins, Bizzarri would bring considerable added value as an intermediary between the brand and advisors», Berlendi continues. «He has extensive experience with publicly traded international companies, and his reputation would offer reassurance to the market and to partners considering joining the Company in a potential IPO. He has also previously worked with Maggio at Bottega Veneta from 2009 to 2014». However, Bizzarri’s immediate focus is not solely on Elisabetta Franchi. The Manager-Entrepreneur was recently appointed to the board of Golden goose, a brand famous for its sneakers and, according to rumors, set to list on the Milan Stock Exchange. Bizzarri is expected to play a key role in this project.

«I have followed this success story over the past ten years and have been impressed by the product and the community built under the leadership of Silvio Campara», the Manager stated. «I am excited to join this family and contribute to its future growth». How do industry analysts view this development? «Managing unlisted companies is not necessarily easier, even though they may be smaller. That is why strong management skills are crucial», Luca Solca, Senior Research Analyst for global luxury goods at Bernstein, explains. «I believe Bizzarri is one of the most capable and experienced managers in the industry today. His revitalization of Gucci is unprecedented and will be remembered as a pivotal moment in the industry’s history».

Are there similar cases of managers who shifted to investing? «Bizzarri’s predecessor at Gucci, Patrizio Di Marco, followed a similar journey, achieving great success through private equity investing», Solca explains. Now, all eyes are on Bizzarri’s next steps. Recently, he took over at Forel, a company supporting a segment of the new SICAV Faro Alternative Investments. Through Forel, he secured a deal for Faro AI to acquire a majority stake in the luxury design company Visionnaire.

«The choice of these initial brands aligns with Bizzarri’s new direction. Both Golden Goose and Elisabetta Franchi have experienced strong growth and are preparing to take the next leap in markets, including the financial ones», Dario Minutella, Partner at Kearney, notes. He highlights how transitioning from a phase of robust growth to a period of significant business model overhaul opens interesting opportunities for everyone involved in the supply chain. «It is a revolution that demands significant expertise and capable leadership».

A top manager, who prefers to remain anonymous, told MFF, «When he first took over as ceo of Gucci, he told his team, ‘This is my strategy, if Pinault does not like it, they will fire us all!’». This anecdote illustrates Bizzarri’s ability to take bold decisions. It is no wonder that a figure who has played a pivotal role in the fashion industry for the past two decades is entering a new phase in his career, focused on reshaping multiple brands rather than overseeing just one. «Through his various roles, Bizzarri can bring his diverse experience from companies of different sizes and at different stages of their lifecycle, like Stella McCartney, Bottega Veneta, and Gucci, and apply his strategic vision on relevant issues», Minutella concludes.

 From Mandarina Duck to Bottega Veneta and Gucci, here is Bizzari’s remarkable career

 «I was 37 when I became a ceo for the first time, and after 25 years of leading companies of different sizes, cultures, and stages of development, and after nine years at Gucci, I was ready for a new challenge, still in fashion but with a broader perspective», Marco Bizzarri stated as he launched Nessifashion, his new investment holding company.

Bizzarri’s journey began as a consultant at Accenture, an IT consulting firm, in 1986. He joined the Bologna-based Mandarina Duck Group in 1993, eventually becoming its ceo. After a decade, he moved on to Marithé et François Girbaud as General Manager. Later, he joined Kering, initially at Stella McCartney in 2005 as ceo, where he spearheaded the Brand’s international growth. Then he moved to Bottega Veneta, serving as President and CEO from 2009 to 2014, bolstering its reputation. He became a member of Kering’s Executive Committee in 2012 and promoted to General Manager of the Couture & Leather Goods Division.

However, his most significant achievement was at Gucci, where he served as CEO from 2014 to September 2023, handing over the role to Jean-François Palus. It was Bizzarri who appointed Alessandro Michele as Creative Director, who had been with Gucci for 12 years, having worked alongside Tom Ford and Frida Giannini. Under Bizzarri’s guidance, with aggressive strategies that supported Michele’s creative talent, Gucci’s revenue skyrocketed from 3 to 10 billion euros. This transformation marked a significant aesthetic and strategic revival that left an indelible mark on the fashion industry. Now, everyone is betting on his Midas touch. (All rights reserved)