MILAN — Luca Lo Curzio is joining K-Way as its new chief executive officer, according to market sources.
This confirms a WWD report earlier this month stating that Lo Curzio was exiting his role as CEO of Jil Sander.
This would be the first sign of a new course under Permira, which last month said it was investing in K-Way. The appointment of Lo Curzio is expected to be effective in the first quarter of 2025, once the financial operation is concluded.
Permira Growth Opportunities II, a fund managed by the global investment firm, is buying a 40 percent stake in French premium outerwear brand K-Way from BasicNet, led by the Boglione family.
BasicNet will hold the remaining 60 percent stake. As per this agreement, K-Way’s enterprise value, including the IFRS 16 standard, is pegged at 505 million euros.
Permira is expected to support K-Way’s growth across its channels, with a particular emphasis on direct-to-consumer avenues, opening new stores, expanding its product range, reinforcing the brand’s leadership in France and Italy, but also to grow internationally.
K-Way next year will mark its 60th anniversary, as it was founded in 1965 by Léon-Claude Duhamel in Paris and is known for its packable, category-defining waterproof jacket, the “Claude,” with its distinctive colorful zip and logo inspired by the French flag, and it has established itself as an outdoor-inspired lifestyle brand.
K-Way was acquired in 2004 by BasicNet, founded by Marco Boglione. Marco Boglione’s sons, Alessandro and Lorenzo, currently hold the role of executive vice presidents of BasicNet and CEOs of K-Way.
Lo Curzio was named Jil Sander’s CEO in June last year.
The brand was acquired by OTB Group in April 2021.
Lo Curzio joined Jil Sander from the Ermenegildo Zegna Group, where he arrived in 2016, initially as chief marketing and digital officer and rising through the ranks to become president and CEO of Ermenegildo Zegna North America.
Prior to Zegna, Lo Curzio held positions of increasing responsibility in the Luxottica Group, Bain & Company, Danone and L’Oréal.
In addition to Jil Sander, OTB, founded by Renzo Rosso, comprises Diesel, Maison Margiela, Marni, Viktor & Rolf and a stake in Amiri, as well as production arms Staff International and Brave Kid.
