Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, announces that Cedric Wilmotte will be appointed Chief Executive Officer of Michael Kors effective April 3, 2023.
Mr. Wilmotte recently served as the interim Chief Executive Officer for Versace from January through September 2022 and is currently Versace’s Chief Operating Officer. Prior to his time at Versace, Mr. Wilmotte led the Michael Kors EMEA business from its inception in 2008 through 2021.
Introducing our newest campaign for #MichaelKorsGorgeous, a modern, luxurious fragrance with timeless appeal. Shot by Lachlan Bailey and starring Rebecca Longendyke, come along on a jet-set escape to sun, sand and sea. pic.twitter.com/HtTsN2xNLC
— Michael Kors (@MichaelKors) February 10, 2023
During his tenure as President of Michael Kors EMEA, Mr. Wilmotte was responsible for Michael Kors’ significant growth in the region. Before joining Michael Kors, Mr. Wilmotte held senior leadership positions at Marc Jacobs in Paris from 2004 to 2008 and at Donna Karan in New York, London and Milan from 1998 to 2004.
John D. Idol, Chairman and Chief Executive Officer of Capri Holdings said, “I am thrilled to welcome Cedric back to the Michael Kors team as our new Chief Executive Officer. Cedric is a strong leader with extensive retail and merchandising experience and has a deep understanding of the Michael Kors brand and consumer.”
— Bloomberg Feed (@BloombergFeed) February 8, 2023
Idol continued, “Cedric has proven himself to be a versatile leader within our group, having achieved great success at both Michael Kors and Versace. The Board, Michael and I are confident that the Michael Kors brand will benefit tremendously from Cedric’s leadership, which will help to further accelerate our strategic initiatives. Cedric’s appointment ensures that we have three experienced and talented CEOs at each of our luxury fashion brands.”
— Michael Kors (@MichaelKors) January 28, 2023
Michael Kors chief creative officer said, “Cedric shares in my vision for the brand and I am excited to welcome him back to Michael Kors. I look forward to working with him again as we continue to grow our company globally.”
Capri Holdings Limited will hold its earnings call tomorrow. Per our data, we believe that $CPRI’s Michael Kors gained share of the US handbag market during each of the last 2 quarters, following a string of share losses.
— M Science (@msciencellc) February 7, 2023
“I am excited to lead the Michael Kors brand as Chief Executive Officer,” said Cedric Wilmotte. “Having been a part of the Michael Kors family for almost 15 years, I have a special and personal connection to our brand, our employees and our customers. I look forward to partnering with Michael, the strong leadership team and all of our valued employees around the world to execute on our strategic vision and drive future growth.”
Banner photo courtesy of Michael Kors.