Diesel North America announced Tuesday that Patrick Valeo has joined the company as CEO, effective immediately. In his new role, reporting to global CEO Massimo Piombini, Valeo will lead the company forward focusing on “consistent and robust growth.”
Valeo brings with him an extensive background in leading luxury Italian fashion brands and their retail strategy.
Most recently, Valeo was president of the Americas and global head of commercial sales at MCM for close to six years. Prior to that, he was president and COO of SMCP USA Inc., the company that owns the Sandro, Maje and Claudie Pierlot brands. Valeo also served as vice president, retail at Dolce & Gabbana, holding the same title at Gucci Americas.
This experience, Diesel stated, will help him successfully build the Italian denim brand in North America.
Valeo replaces Stefano Rosso, the son of Diesel founder Renzo Rosso, who spent the past three years in the U.S. directing the brand and its operations through a significant reorganization that included a three-year turnaround plan for all channels of business and marketing.
In 2019, the U.S. arm of Diesel filed for bankruptcy protection, triggering the close of its underperforming locations across the country. However, the brand returned to profitability by eliminating more affordable lines, integrating more high-end collaborations and honing its sustainability message and strategy.
Rosso will continue to be part of the board of directors of OTB, the parent company of Diesel, Maison Margiela, Marni, Viktor&Rolf, Amiri, Staff International and Brave Kid.