Onward Luxury Group to change top management, as Franco Penè quits, after 24 years. Takehiro Shiraishi takes over as new CEO

Franco Penè is about to resign from Onward Luxury Group. After leading the European company for 24 years, he is going to quit the job and retire. Takehiro Shiraishi, who has been running, since 2012, Joseph, an English brand owned by Onward, will replace him. Shiraishi will be in charge of Jil Sander brand, OLG’s footwear department and apparel division. The story dates back to 1989, when Japanese Onward bought out Italian Gibò, therefore turning to Onward Luxury Group. The company progressively carried out a number of acquisitions (Jil Sander, Moreau and Charlotte Olympia) through an industrial network that enable them to manage the entire manufacturing (with regard to footwear, they run Iris Shoes shoe factory, located in Fossò, Venice). OLG also produce and supply clothing collections and shoes for several other brands. As regards footwear, they are licensees for Rochas, Mulberry, OAMC, See by Chloè, Nina Ricci and Proenza Schouler. While talking to Fashion Network, Penè remarked, “When it comes to manufacturing, Italy is still the benchmark country”. Marketwise, Asia, China in particular, is the present and the future, as Millennials are going to drive prospective business growth. “Companies that do not cling to these trends are bound to be in trouble. That is the way streetwear affects luxury, aiming to entice younger clientele”.


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