Adds background and gross sales particulars on Kate Spade
Adds background and gross sales particulars on Kate Spade
Dec 12 (Reuters) – Kate Spade Chief Government Officer Anna Bakst will depart on the finish of the 12 months, mother or father Tapestry Inc TPR.N stated on Thursday, lower than two years after being employed to show round gross sales on the purse maker.
Since buying Kate Spade in 2017, the style home has struggled with the model’s out-of-fashion designs which have weighed on efforts to promote its purses at full-price to millennial buyers.
Similar-store gross sales on the model have dropped for the reason that acquisition and plunged 16% within the newest reported quarter.
Tapestry, which additionally owns Coach and Stuart Weitzman, employed Bakst and Inventive Director Nicola Glass from luxurious purse maker Michael Kors CPRI.N hoping the 2 may assist revamp the model’s designs to tug buyers again into shops.
In September, Tapestry changed its Chief Government Officer Victor Luis, who orchestrated the acquisitions of Stuart Weitzman…