Debenhams new CEO is ex-Amazon vice-president
UK department store Debenhams has appointed Sergio Bucher, vice-president of fashion at Amazon, as its next CEO.
Sergio, who has served as vice-president of Amazon Fashion Europe since 2013, will join Debenhams in October of this year.
The news comes after the department store's current CEO, Michael Sharp, last month confirmed his departure amid a rise in first-half earnings and sales. Sharp will step down from the board in June.
Sergio counts Puma, Nike and Inditex, where he led the start-up of of its lingerie retail brand Oysho, as previous employers.
He said: "I am excited to be joining Debenhams, with its strong UK heritage, a growing international presence and a track record of supporting and developing brands and designers. I look forward to working with its experienced and talented team to take Debenhams forward to an exciting new future."
Debenhams chairman, Sir Ian Cheshire, said he is "delighted" at the appointment.
He added: "Following a rigorous recruitment process with some exceptional quality candidates, Sergio's wealth of e-commerce expertise, international experience and clear leadership qualities stood out. I am confident we have the best possible person to realise the potential of 'new Debenhams' as a leading international multi-channel retailer with a bright future."
Sergio's appointment comes just a week after analysts at Cowen & Company reported that Amazon is on track to replace Macy's as the number one US apparel retailer by next year.
The online retailer has made an aggressive push into apparel and fashion, and could account for 19% of the overall US apparel market by 2020, up from around 7% today, according to analysts at Morgan Stanley.
Help test our new apparel sourcing tool.
This report provides information, analysis and valuable insight into developments relating to the global apparel industry....
Bangladesh union representatives have signed a collective agreement with H&M and Inditex supplier Natural Denims Ltd for the first time, entitling workers to an annual wage increase, sick leave and a ...
Plimsoll Publishing’s Clothing Retailers (EUROPEAN) Analysis provides a detailed overview of the UK Clothing Retailers (EUROPEAN) market and delivers a comprehensive individual analysis on the top 970...
The UK clothing market will grow by £3.2bn in the five years to 2021-equating to 23.6% growth on 2016. However volume growth will not reach pre-recession levels until 2019. Retailers will need to over...
UK department store retailer Debenhams has told just-style it "constantly reviews its product offer and adapts to customer needs" in response to claims new CEO, Sergio Bucher, is cutting ties with som...
The womenswear sector will grow by 15.9% over the next five years....
- China leads US apparel sources with falling prices
- Hard hit Turkish industry is not knocked out
- Vietnam grows share of US apparel imports in 2016
- US apparel sector braces for potential cost hikes
- Trade Tracker – Trump's first weeks, Brexit agenda
- US Q4 in brief – Chico's FAS, TJX Companies
- VF Corp sees Q4 and FY earnings tumble
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- $136m funding for Made in NY garment-making hub
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Global market review of lingerie – forecasts to 2022
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar