IBrands Global Names New CFO
GETTING TECHNICAL: Seasoned fashion executive Carmine Pappagallo has joined IBrands Global as chief financial officer.
The family-owned and -operated global supply chain platform is new terrain for the professional. In addition to fashion brands, the conglomerate works in the health and wellness and food industries.
During his nearly 30-year career, he has worked for a wide range of fashion companies, including Valentino, Fila, Proenza Schouler, Derek Lam and Elie Tahari Ltd. Most recently, he served as senior vice president of strategic planning and business development for Anthony Thomas Melillo’s ATM brand and Derek Lam 10 Crosby until January at Public Clothing Company.
At IBrands Global, Pappagallo is assuming the CFO responsibilities that were previously handled by chairman Marc Garson, who continues in that role. Pappagallo has been tasked with bringing the company up to generating $500 million in revenues annually by 2025, according to a company spokeswoman. Improving IBrands’ technology and systems, and integrating its multiple companies across the apparel, health and wellness, and food service verticals into one integrated system are among his other priorities.
In Pappagallo’s role as CFO and chief operating officer at Valentino, the company’s revenue was said to have increased to $300 million from about $50 million. Until July 2019, Pappagallo worked at the Italian luxury house for 15 years and executed its strategic plan in the Americas. Expanding retail, e-commerce and international business were areas that he zeroed in on. The senior executive focused on Canada, Mexico, Central and South America to help further that growth.
The new CFO has been tapped at an integral time for IBrands Global, which in January acquired the casual sportswear label Pam & Gela for an undisclosed sum. The brand had been started by Pam Skaist-Levy and Gela Nash-Taylor, who also launched Juicy Couture. Other additions to IBrands Global were InCharged, a tech company that specializes in charging stations, and VendX, an interactive touchscreen provider.
IBrands Global chief executive officer Rem Garson said Pappagallo will be “a major factor” in not only the growth of its fashion vertical with brands like Pam & Gela, EBY, Bebe and Alloy Apparel, but its health and wellness and good service verticals.
During the pandemic, IBrands took on more than $70 million in debt in order to become the leading supplier of PPE to the food services industry.
A graduate of the University of Venice, Pappagallo is part of an executive team that includes Garson, as well as chairman Marc Garson, COO Cole Garson, chief growth officer Darren Garson and president of sales Isaac Rosner.
IBrands Global has contracts with steamship lines, its own fleet of trucks and drivers and seven domestic warehouses. It also works with a multitude of ports, all of which the company has used expediently during the pandemic-induced shipping delays and sourcing issues, according to Remy Garson.