– USA, CA – Lugano Diamonds & Jewelry, Inc., a designer, manufacturer, and marketer of high-end, one-of-a-kind jewelry and a subsidiary of Compass Diversified (NYSE: CODI), today announced the appointments of Frederic Cumenal and David Arnold to its Board of Directors.
Frederic Cumenal is the former President and CEO of Tiffany & Co., and David Arnold is the Vice-Chairman of Penske Media Corporation.
“We are excited to welcome Frederic and David to Lugano’s Board, and we are eager to benefit from their collective wealth of knowledge and expertise in the luxury retail space as Lugano prepares for its next stage of growth,” said Board Chairman, Patrick Maciariello.
He added: “Frederic and David have tremendous experience leading some of the world’s most recognizable jewelry, luxury, and lifestyle brands, and their addition will provide valuable guidance during this transformational period in Lugano’s story. Together, we will continue to build on Lugano’s strong position in the high jewelry industry.”
Both Mr. Cumenal and Mr. Arnold will become minority shareholders.
About Frederic Cumenal
Mr. Cumenal brings unparalleled expertise in the jewelry industry to Lugano’s Board, as well as decades of experience leading some of the world’s most recognizable luxury brands. He previously led one of the world’s premier jewelers and luxury retailers, Tiffany & Co., serving as its President from 2013 to 2017 and CEO from 2015 to 2017. Prior to Tiffany, Mr. Cumenal spent 15 years at LVMH and served in several senior roles, including CEO and President at Moët & Chandon S.A. He currently sits on the Boards of Blue Nile, one of the world’s largest online jewelers, and Mack-Cali Realty Corporation.
“I am honored to join this company’s Board at such a pivotal time for growth,” said Frederic Cumenal. “Lugano’s talented team demonstrates a breadth of excellence and skilled management across all sectors of its business, and I have tremendous respect for the quality of materials and craftsmanship in Lugano’s pieces. I am confident that the combination of world-class, one-of-a-kind designs, intimate retail environments and a focus on building long-lasting client relationships has the company poised for long-term success.”
About David Arnold
Mr. Arnold joins the Lugano Board with over twenty years of experience leading and growing brands in the luxury media space. He is currently the Vice-Chairman of Robb Report, a luxury lifestyle magazine covering the latest in luxury cars, yachts, aviation, fashion and more. In this role, Mr. Arnold is responsible for growing the brand’s presence in the global luxury space through new partnerships and successful event franchises. Prior to joining Robb Report, Mr. Arnold spent 13 years at Hearst Corporation—seven years as the publisher of House Beautiful, and six years at Town & Country.
David Arnold said, “Lugano has leveraged a deep understanding of its target customer to create a unique, event-driven marketing strategy. By investing in the local community to make an impact through its charitable and philanthropic efforts, Lugano has established a recognizable, trusted presence in high-value luxury goods markets and with local leaders across the country. The genuine relationships Lugano forms with its customers is a testament to both its world-class products and the differentiated approach it uses to sell them, and I look forward to supporting the Company’s continued success.”
About Lugano Diamonds & Jewelry, Inc
Founded in 2004 and headquartered in Newport Beach, California, Lugano is a designer, manufacturer and marketer of high-end, one-of-a-kind jewelry. Lugano conducts sales of its exclusive merchandise via four retail salons in Newport Beach, Aspen, Palm Beach and Ocala, as well as via pop-up showrooms at Lugano-hosted exclusive events. These salons offer an intimate sales experience where clients can schedule private, no-pressure appointments to view, try on and discuss jewelry. Lugano-sponsored events provide an opportunity for existing or new clients to network among like-minded individuals and to bond over common interests in fine arts, charity and sporting activities.
For more information: https://www.luganodiamonds.com/
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