Senior LVMH exec joins Clessidra

The new hire is intended to expand Clessidra's operational expertise.

Prior to his departure, Trapani was head of the watch and jewellery division at LVMH. He joined the firm after the successful integration of Italian jewellery house Bulgari, where he was CEO, into the firm in 2011 in a €3.7bn deal.

Clessidra has experience in the luxury jewellery sector, following the acquisition of a 70% stake in Buccellati in 2013.

Trapani began his career at Bulgari in 1981 and became managing director in 1984. Over the following 30 years, the firm's turnover grew from around €25m to more than €1bn. He oversaw the flotation of the firm in Milan and London in 1995.

Clessidra is expected to float Italian asset manager Anima soon following recent approval from the Italian regulators. The IPO is expected to value the business at up to €1.3bn. 

The GP recently entered exclusive negotiations to buy a minority stake in Italian clothing company Harmont & Blaine to drive its international expansion. 

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