Leadership changes at Michael Kors
Luxury group Capri Holdings has announced a series of leadership changes at Michael Kors as the fashion brand works to return to growth.
John Idol, chairman and chief executive officer of Capri Holdings, will assume the role of chief executive of the fashion brand while Philippa Newman will be promoted to the position of chief product officer.
Idol will succeed Cedric Wilmotte who Capri said was leaving the company as part of a reorganisation plan and expense reduction initiative.
Newman joined Michael Kors over 14 years ago having most recently served as the president of accessories and footwear.
In her new role, she will report to Idol and oversee merchandising, production, licensing and design across all product categories while working in partnership with Michael Kors’ chief creative officer.
Idol said: “Philippa is a dynamic leader with an exceptional breadth of experience developing compelling product for our consumers. I am confident that in her new role as chief product officer for Michael Kors she will successfully lead the execution of our product transformation strategy and drive growth for Michael Kors across all channels.”
In its second quarter ending 28 September, Michael Kors’ revenue decreased by 16% to $738 million year-on-year.
Idol added: “This reorganisation reinforces Michael Kors’ plans to engage and energise both new and loyal consumers, create exciting fashion and core products with compelling value, improve store productivity and return our wholesale business to growth.”
