Martin Margiela officially exits; Diesel won't replace him
It has been on the cards for some time, but now we have official confirmation that Martin Margiela has exited the label he founded 20 years ago, Maison Martin Margiela.
Giovanni Pungetti, chief executive of MMM, said Margiela has quietly left the label and will not be replaced. Pungetti also rejected claims that Margiela left due to a falling out with the new management, Renzo Rosso of Diesel. It seems he simply wished to retire without being put under the spotlight.
"It would have been very simple to hire someone else, and we evaluated that option, but in the end, what is important is the taste of designer," he said.
Since 2002, Rosso has owned a majority stake in the fashion house, which he will now continue with a 28-strong staff, and so far it seems to be working. The company's revenue has increased from €15 to €70 million, and new MMM stores are opening up all the time. Perhaps a label without a head designer is the next step forward.