“I am excited to continue partnering with Michael, John and the leadership team to achieve our strategic goals and revitalize the Michael Kors brand,” he said. Philippa Newman. “Michael Kors has strong brand value and tremendous potential. I am confident that by consolidating design, marketing, production and licensing under one unified team we will be able to execute our strategies more effectively, including delivering more targeted products to different consumer groups, to return Michael Kors to growth. ”.
Capri Holdings announced leadership changes at Michael Kors, with Chairman and CEO John D. Idol taking over as CEO of Michael Kors and Philippa Newman promoted to Chief Product Officer effective December 2024. Newman will oversee product strategy to drive growth, while Cedric Wilmotte leaves. The reorganization aims to stabilize revenues, improve product attractiveness and engage consumers effectively.
Additionally, as part of its reorganization plans and cost reduction initiatives, the company announced that Cedric Wilmotte will be leaving the organization. John D. Idol, President and CEO of Capri Holdingssaid: “I would like to thank Cedric for his important contributions over the last 16 years. We wish him all the best in his future endeavors.”
lord idol continued: “As I said in our recent investor call, we are moving quickly to implement strategic initiatives to stabilize revenues and return to growth. This reorganization reinforces Michael Kors' plans to engage and energize new and loyal consumers, create exciting fashion and core products with compelling value, improve store productivity and return our wholesale business to growth. Philippa is a dynamic leader with exceptional experience in developing attractive products for our consumers. “I am confident that in her new role as Chief Product Officer of Michael Kors, she will successfully lead the execution of our product transformation strategy and drive growth for Michael Kors across all channels.”
Note: The content of this press release has not been edited by Fibre2Fashion staff.
Fiber2Fashion News Desk (RM)
