MILAN — Italian jewelry firm Gruppo Damiani has tapped Jérôme Favier as its new chief executive officer, charged with reorganizing the company’s structure and strengthening the brand in Italy and outside the country. This is a new position. Damiani is publicly listed in Milan and led by the third generation of the founding family: Guido is president, and Giorgio and Silvia Damiani are vice presidents. Favier first worked in executive positions at Danone and Unilever until 1994, when he joined Compagnie Financière Richemont SA, with a focus on Cartier and Jaeger-LeCoultre strategies. Founded in 1924, Damiani today controls the namesake brand, the Salvini and Bliss labels; Calderoni, which dates back to 1840; Rocca, founded in 1794, and glass firm Venini. The group closed the fiscal year ended March 31 with a net loss of 4 million euros compared with a loss of 5.5 million euros in the previous year, on sales of 164 million euros, a 1.6 percent increase. At constant exchange rates, revenues grew 3.1 percent. The retail channel drove this growth, climbing 12.9 percent to 86.4 million euros and accounting for almost 53 percent of total. The wholesale channel showed a 8.7 percent decrease to 77.6 million euros. Italy remained the core market

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