It’s now high time in fashion and there’s no better way to kickstart the year than by putting the right leaders in place. U.S. luxury group Capri Holdings which houses designer brand Michael Kors announced the new Chief Executive Officer of the brand, company veteran Cedric Wilmotte.
Wilmotte, 48, recently served as the interim CEO of the group’s Versace brand and is currently the chief operating officer of the label. He is scheduled to take charge from April 3 at Michael Kors.
One of his notable experiences was that he previously led Michael Kors' EMEA (Europe, Middle East, Africa) business from 2008 to 2021.
In March last year, Capri announced that the head of the Michael Kors brand, Joshua Schulman, who was set to become the group's top boss later in the year, would eventually step down. Back in August 2021, Schulman was named Michael Kors' chief executive.
Capri Holdings, which also owns Jimmy Choo, lowered its holiday period sales and profit forecasts, stating a slow recovery in China and stated that the demand for Michael Kors products was also slowing at U.S. wholesale retailers. However, the announcement of a new CEO deems a promising start to the year.