Capri Holdings, the parent company of luxury brands Versace and Michael Kors, has recently announced the appointment of its new CEO, Hannah Colman. Colman, who has served as the President of Europe, Middle East, and E-commerce for the past 23 years, has been acting as the interim CEO since February, following the departure of Pierre Denis to join cosmetics company Coty. Alongside Sandra Choi, the creative director of Jimmy Choo, Colman will be leading the brand through these challenging times.
Due to the ongoing Covid-19 crisis, Jimmy Choo has experienced a significant decrease in revenue, with a staggering 67.7% decline in the first quarter of 2020. As the newly appointed CEO, Colman’s main focus will be to enhance the brand’s financial performance during these uncertain times. The fashion industry, like many others, has suffered greatly from the effects of the pandemic, with store closures and economic uncertainties being major factors.
Colman’s vast experience in the luxury industry, combined with her previous leadership role within the company, make her a valuable asset in guiding Jimmy Choo towards recovery. Her proven ability to drive growth and manage operations will play a crucial role in steering the brand through these challenging times.
Working alongside Sandra Choi, the creative director, Colman will have the support of a talented team dedicated to reestablishing Jimmy Choo’s prominence in the luxury market. Choi’s creative vision, coupled with Colman’s strategic expertise, will create a winning combination to ensure the brand remains competitive and relevant.
As the new CEO, Colman will also need to address the changing consumer behavior and expectations brought about by the pandemic. With the industry adapting to a new normal, it is imperative for Jimmy Choo to stay ahead of the curve by embracing digital solutions and exploring innovative ways to engage with customers.
Despite the current difficulties faced by the luxury fashion industry, it has proven to be resilient in the past, bouncing back from setbacks. With Hannah Colman at the helm as CEO, Jimmy Choo is in a strong position to navigate these challenging times and emerge even stronger. With her experience and leadership, supported by Sandra Choi and the entire team, the brand is poised to create a new chapter in its illustrious history.
Useful links:
1. https://www.businessoffashion.com/
2. https://www.vogue.co.uk/
