José María Folache becomes CEO of Parfois

The Portuguese company has announced the appointment of Spanish-born Jose Maria Folache as chief executive director, taking over from Sergio Marques. The Spanish executive, who has recently left his role as head of luxury jewellery and accessories firm Tous, will join Parfois on 25 March.

Jose Maria Folache joined Tous in 2012, where he succeeded previous CEO Jose Luis Mangano. After seven years at the helm of the company, the executive has been replaced by Carlos Soler-Duffo, previously commercial director at the firm. Prior to his appointment at Tous, Folache spent three decades working for big retailers. First, he was purchasing director at Promodès, the owner of Continente. Following its merger with Carrefour, he became vice president and managing director of the French company in Europe. He entered the fashion sector in 2009, when he became purchasing director at El Corte Ingles. This was three years before joining Tous.

The Spanish director will join the Rio Tinto-based company to replace Sergio Marques, who has been executive director at Tous since 2006. He said that “the changes in the management of the company and the ability to attract professionals with international expertise demonstrate the company’s vitality and strength.”

Meanwhile, CEO António Pires de Lima has left the company following the expiration of his two-year contract on 31 December. Jose Maria Folache will be responsible for both roles, but both António Pires de Lima and Sérgio Marques will continue to work with the company as non-executive directors.

The Portuguese accessories firm increased revenues to €290 million ($327m) in 2018. It currently has nearly 1,000 stores in over 60 countries, and the company is planning to open 450 new locations, as well as new offices and logistics centres by 2020. The expansion will involve a €70 million investment, which will help it move closer towards its goal of making €400 million in sales by 2020.

José María Folache becomes CEO of Parfois

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