Capri Holdings Ltd, the U.S.-based luxury group, has announced that Cedric Wilmotte will be taking over as the CEO of its Michael Kors brand. Wilmotte, who has been with the company for many years, will officially assume his new role on April 3. He most recently served as the interim CEO of Capri’s Versace brand and is currently the chief operating officer at Versace. Prior to that, he led Michael Kors’ business in Europe, the Middle East, and Africa for over a decade.
This announcement comes in the wake of the departure of Joshua Schulman, the former head of the Michael Kors brand, who recently left the company. Schulman had been appointed as Capri’s top executive earlier this year.
Capri Holdings Ltd, which also owns the Jimmy Choo brand, faced challenges during the holiday season due to slow recovery in China and weakening demand for Michael Kors products at U.S. wholesale retailers. As a result, the company had to revise its sales and profit forecasts in November.
The appointment of Cedric Wilmotte as the CEO of the Michael Kors brand is a strategic move by Capri Holdings Ltd to address these challenges and continue the growth and success of the brand. Wilmotte’s extensive experience with the company and his previous leadership role in Europe, the Middle East, and Africa make him a valuable asset in driving Michael Kors’ business forward.
Capri Holdings Ltd remains committed to strengthening its luxury brands and adapting to the evolving dynamics of the global market. By appointing Cedric Wilmotte, the company aims to leverage his expertise to drive innovation, expand the brand’s presence, and enhance its profitability.
As the luxury industry continues to evolve, Capri Holdings Ltd is focused on leveraging the strengths of its various brands, including Michael Kors, to maintain a strong position in the market. With strong leadership and strategic decision-making, the company is poised to navigate challenges and drive long-term growth.
The appointment of Cedric Wilmotte as the CEO of Michael Kors is a significant move for Capri Holdings Ltd. It demonstrates the company’s commitment to the success of the brand and its determination to position Michael Kors as a leading luxury fashion label. Wilmotte’s extensive experience and knowledge of the company make him the ideal candidate to lead the brand into the future. Under his guidance, Michael Kors will continue to resonate with consumers and remain a prominent player in the luxury fashion industry.
In conclusion, Capri Holdings Ltd has appointed Cedric Wilmotte as the new CEO of its Michael Kors brand. With his extensive experience and leadership skills, Wilmotte is well-equipped to drive the brand’s growth and success. As Capri Holdings Ltd adapts to the changing dynamics of the luxury market, the company remains committed to its brands and strategic decision-making to ensure long-term success.
Useful Links:
– Capri Holdings Ltd
– Michael Kors
