Dive Brief:
- Kering promoted Ewa Abrams to president of Kering Americas from her previous role as the division’s general counsel, effective Aug. 1, according to a Monday press release.
- Abrams joined Kering in 2018, and in her new role, she will report directly to Jean-Marc Duplaix, deputy CEO in charge of operations and finance, per the release.
- Laurent Claquin, the previous president of Kering Americas, was promoted to group chief brand officer in June, and started the newly created role at the beginning of July.
Dive Insight:
The appointment comes a week before Kering is set to release its first half earnings.
In April, the luxury conglomerate projected an H1 recurring operating income decline of up to 45% following a first quarter revenue decline of 21% at Gucci, Kering’s fashion largest house.
Revenue in North America “improved sequentially” in the fourth quarter of 2023, and continued to trend upward in the region in the first quarter of fiscal 2024. However, larger economic unevenness in the luxury sector coupled with a general election year in the U.S. may lead to challenges in the region, and Abrams could help stabilize their interests there.
“Her experience within the Group and her extensive knowledge of the Luxury industry will be key to support Kering’s strategy and development in the region,” the company said in its release.
Other recent executive changes include the April appointment of Stefano Cantino to the newly created role of deputy CEO at Kering-owned Gucci and last year’s hiring of Armelle Poulou as Kering’s CFO.
Competitors in the luxury fashion space have battled waning consumer interest over the past several months, as reflected in multiple reported earnings downturns.
Burberry reported a 22% retail revenue decline in a Q1 release Monday, while in May Salvatore Ferragamo and Aeffe reported Q1 decreases of 18% and 14%, respectively.
