Marco Marchi named president of Coin SpA
The board of directors of Italian department store group Coin SpA has appointed Marco Marchi as its new president. A former Coin board member and the founder and president of Italian label Liu Jo, Marchi succeeds Giorgio Rossi, who will stay on as a board member.
The handover had been planned and approved for some time, and has taken place at a crucial strategic juncture for the department store group, currently engaged in deploying a major investment and capital boosting plan. Coin SpA will close fiscal 2022 with a revenue of €300 million, up from the €288 million recorded in the previous fiscal year. Total consolidated revenue, VAT included, for fiscal 2022 is expected to be €440 million, inclusive of the revenue generated by the group’s partners operating separately. EBITDA stands at €18.7 million, on par with Coin’s 2021 result. Net income is expected to reach €20 million, well above the 2021 figure.
“It is an honour for me to have been appointed to this new position by the board of directors,” said Marchi. “In my years as a board member, I have become familiar with and have appreciated Coin’s strengths, and I am sure that the company will be able to rely on everyone’s commitment to deal with the major future challenges facing the group, as it aims to enhance and expand the business,” he added.
The Veneto-based group has a nationwide presence in Italy, in city centres and popular high streets, and operates 37 directly owned branches and 102 Coincasa stores in Italy and abroad. Coin distributes over 1,000 consumer brands across a retail area of approximately 110,000 square metres, and also operates its own marketplace. As Coin Excelsior, the group operates branches in Rome (via Cola di Rienzo), Milan (in the Milano CityLife Shopping District, and on Corso Vercelli) and Trieste (on corso Italia).
Copyright © 2023 FashionNetwork.com All rights reserved.