MONZA, Italy, July 26, 2011 (GLOBE NEWSWIRE) -- Frette, which for over 150 years has been the leading provider of luxury linens internationally, today appointed Laurence Franklin as its new CEO.
Mr. Franklin, 59, comes to Frette with over 25 years of international management experience in the fashion, cosmetics and accessories industries. Mr. Franklin has a consistent record of creating successful, high performing businesses and valued brands, and working constructively with private equity and institutional investors. Mr. Franklin will work closely with Jeff Hansen - Partner of JH Partners, Frette's controlling shareholder - who will remain Chairman of the Company.
Laurence Franklin received his BA degree from Colgate University and an MS from the New York University Graduate School of Business. He started his career at Peat Marwick Mitchell in finance and accounting, and then moved to the management consulting services group at Price Waterhouse & Co. in New York. In 1986 he joined Tumi Inc. and through 1992 helped direct this emerging brand through a ten-fold growth rate that saw it develop as a leader in its sector. In 1993 he became President of Coach Leatherware, and during his tenure sales more than doubled and the foundation for the billion dollar Coach business was laid. In 1996 he became General Manager and Executive Vice President of the cosmetics businesses of Unilever managed through the Elizabeth Arden division. Then in 1999 he rejoined Tumi as President, responsible for global strategic and creative development and then in 2002 was appointed CEO.
"We are thrilled to have Laurence Franklin on our team at Frette," said Jeff Hansen, "His background and experience are well-suited to lead our growth and development plans for the business, and I am confident our partnership will be successful. Frette has a great history supplying customers with some of the most beautiful home products in the world, and I believe Laurence will represent the brand well."
"I am proud to be associated with a brand that has such a great heritage and such a promising future," Mr Franklin said. "My passion is building brands, and I look forward to upholding the tradition of design excellence and outstanding quality that Frette is known for. I am confident that Frette will continue its leadership position, both here in Italy and abroad."
About Frette:
Founded in 1860 and based in Milan, Frette is the leading international luxury bed, bath and home furnishing brand. Frette markets its products to individual customers and the finest hotels and resorts through a network of retail stores, the internet and leading department and specialty stores around the world. The company has a rich history supplying the finest linens to aristocratic families throughout Europe, as well as to the Vatican. Frette sheets have also adorned the beds of the world's most prestigious trains and ocean liners, including the Orient Express and the Titanic. Today, Frette products can be found in Beverly Hills, New York, London, Paris, Hong Kong and Tokyo and other international luxury centers. Top hospitality establishments such as the Paris Ritz, London Savoy, Singapore Raffles, Peninsula Hong Kong and all of Ritz-Carlton's U.S. properties outfit their hotels with Frette linens.
For further information:
Frette
Alison Newman
anewman@frette.com
212 299 0400 Ex 421
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