admin Oscar Pinto-Hervia, the founder and chief executive officer of luxury retailer Hervia, has announced his departure from his role at the helm of the company to “pursue new opportunities”.
Initially founded in 1993, the Manchester-based retailer was acquired by Parabellum Investments earlier this year, with the private equity firm’s owner Rami Cassis outlining a series of notable plans for Hervia’s future.
When the acquisition was announced, it was confirmed that Pinto-Hervia was to retain a stake in the retailer, and remain on as CEO.
Now, however, the entrepreneur is setting his sights elsewhere, with his departure confirmed in a statement to Business Live by a Hervia spokesperson.
His successor has not yet been named, yet Hervia’s future had already been partially outlined by Cassis following the acquisition.
In an interview with FashionUnited in March, Cassis said that he was eyeing suitable acquisitions to integrate with Hervia to increase its retail network outside of its home city, while also potentially stepping into the childrenswear market.
As part of the takeover, Cassis relaunched the brand’s flagship store and its in-house headquarters in Manchester, in a bid to bring Hervia’s operations under one roof.
