What: Following the departure of Roland Armbruster, Coin Spa has appointed a new CEO, coming from its own ranks.

Why it is important: There are many things at stake regarding Coin’s current situation, including making sure that the diversification strategy, away from La Rinascente’s luxurious positioning, is profitable, in an inflationary context.

Italian department store group Coin SpA has appointed Ugo Turi as its new CEO, effective immediately. Turi, an experienced executive who was already a member of Coin's board, has been chosen to lead the company's growth and achieve the targets set by Coin's strategic plan at a challenging time for the retail industry.

In 2022, Coin SpA generated €300 million in revenue, up from €288 million the previous year, and had a total consolidated revenue of around €440 million, including revenue from partners operating separate accounts.

The group operates 37 directly owned branches and 102 Coincasa stores in Italy and abroad and distributes over 1,000 consumer brands across a retail area of around 110,000 square metres.

Coin Spa appoints a new CEO