Michael Kors has just announced the departure of his CEO and his replacement by John D. Idol, CEO of Capri Holdings, owner of the American designer, Versace and Jimmy Choo. While Capri was forced to abandon its takeover by its compatriot Tapestry, it is now up to him to breathe new life, solo, into his Houses.
Capri is over for Cédric Wilmotte…
The American fashion group has just announced the Frenchman’s departure from its Michael Kors subsidiary, where he was appointed CEO in April 2023.
John D. Idol, CEO of Capri Holdings, who has taken over the reins of the brand, thanked Cédric Wilmotte “for his significant contribution over the past 16 years” and wished him “every success in his future endeavors”.
Prior to taking the helm at Michael Kors, Cédric Wilmotte had contributed to the company’s success in the Europe, Middle East and Africa (EMEA) zone, which he managed from 2008 to 2021.
He then spent two years at Versace, another subsidiary of Capri Holdings Limited, as interim general manager and then COO. Before returning to Michael Kors, this time at the very top.
Disappointing results
But the current situation, both at Michael Kors, whose recent quarterly results were disappointing and which, according to Glitz, is suffering from “structural problems”, and at its parent company Capri, following the failure of its takeover by American competitor Tapestry, has prompted it to modify its management organization chart.
Discover our plans Subscribe for 1€ Become an active member of the community of luxury leaders.
To continue reading this article, subscribe or log in to your account
Read also > Tapestry abandons plans to buy Capri Holdings
Featured Photo: © Michael Kors
