Veronica Beard Taps Vincent Zanna as CFO
The brand is bringing on the J.Crew veteran to “focus on optimizing the company's organizational strategy, policies and global business practices.”
Veronica Beard tapped J.Crew veteran Vincent Zanna as chief financial and administrative officer — bringing in a fashion finance veteran who can, perhaps, help set the brand up for bigger things.
In the new role, Zanna will have broad responsibilities, overseeing finance, accounting, logistics, information technology and the legal department.
He will report to Veronica Beard president Stephanie Unwin and the brand said he would “focus on optimizing the company's organizational strategy, policies and global business practices.”
Zanna brings more than 20 years of retail and fashion experience to the job, including 14 years at J.Crew, where he rose to CFO and treasurer.
Unwin said, “He is a highly regarded leader in the industry, and his strong commercial acumen and retail experience are a tremendous addition to our team.”
The incoming CFO added: “I am delighted to be joining Veronica Beard at such an exciting time in the brand's development. I look forward to working with such a talented team in delivering on the company's strategic goals and realizing the full global potential of this incredible brand.”
Just what the “full global potential” of the business is just might be a matter of growing interest to the investment set.
Veronica Beard worked with Goldman
Sachs in 2018 to field interest from potential investors. And while the right deal never materialized, the company has continued to grow and is said now to be positioned well enough to potentially pursue an initial public offering.
A spokesperson for the brand did not immediately reply to a WWD query on whether Zanna's hire would lay the groundwork for a move to Wall Street.
People familiar with Veronica Beard said this summer that an offering was not imminent, but that the company was definitely seen as an IPO candidate, sooner or later, along with other brands such as the Permira-owned Reformation.
Zanna's arrival — and his broad focus on organizational strategy — could help the company at least have the option of an offering down the line.
For now, the consumer IPO market is still trying to get over the introduction of Birkenstock last month, which launched into a tough market with an aggressive price and saw its stock immediately reset lower.
Regardless, there's plenty going on at Veronica Beard in the meantime. The company is launching handbags for spring 2024 and, in September, doubled the size of its Madison Avenue store.
The brand was founded by sisters-inlaw Veronica Miele Beard and Veronica Swanson Beard in 2010.
BY EVAN CLARK