MILAN –Twinset on Monday said Gabriele Maggio has joined the Italian fashion brand as its new chief executive officer. The appointment confirmed a WWD scoop on Dec. 2. Maggio succeeds Alessandro Varisco, and follows the sale of Twinset last June to Borletti Group and Quadrivio & Pambianco (manager of the Made in Italy Fund II) from The Carlyle Group. More from WWD Varisco joined Twinset in 2015 from Moschino. “I am thrilled to be joining Twinset at such a crucial moment in its journey,” Maggio said. “Th ...

The apparel maker's affordable luxury positioning is resonating with value-focused shoppers.Shares of Designer Brands (DBI +48.45%) rocketed 48% higher on Tuesday after the footwear retailer's profits topped investors' expectations. Designer Brands Q3 earnings were up sharply despite a sales shortfallDesigner Brands' net sales declined by 3.2% year over year to $752.4 million in its fiscal third quarter ended Nov. 1. Total comparable sales at stores open at least 14 months dropped 2.4%. However, that was a ...