Headlines

John Idol Takes Over as Michael Kors CEO

Cedric Willmote is leaving the company after 16 years

Published

2 weeks ago

November 27, 2024

VMSD Staff

John Idol Takes Over as Michael Kors CEO — Photography: Courtesy of Michael Kors

Photography: Courtesy of Michael Kors

John Idol has been named the CEO of Michael Kors (New York) as Cedric Willmote steps down as Chief Executive, reports Women’s Wear Daily. Idol is also the CEO and Chair of Capri Holdings, the parent company of Michael Kors.

This change is reportedly an effort to help regrow the label after the proposed $8.5 billion buyout of Michael Kors in August 2023 by Tapestry Inc., parent company of Coach, which was halted by the Federal Trade Commission.

In other C-suite changes, Philippa Newman who joined Michael Kors more than 14 years ago, will become its Chief Product Officer. In a statement, Newman says, “I am confident that by consolidating design, merchandising, production and licensing under a unified team we can more effectively execute our strategies, including delivering more targeted product to different consumer cohorts, in order to return Michael Kors to growth.”

Michael Kors is now looking to close 75 of its 755 stores over the next two years as part of its turnaround.

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