Accessories business Tapestry, formerly known as Coach Inc, has named former Michael Kors executive Anna Bakst as CEO and brand president of Kate Spade.
She is expected to join the business on Monday (26 March) and will succeed Craig Leavitt, who in the wake of the Tapestry acquisition, made the decision to exit the brand in 2017.
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Bakst will be responsible for all aspects of Kate Spade globally and will report to Tapestry CEO Victor Luis who has been leading the brand in an interim capacity since Leavitt’s departure.
“The appointment of Anna Bakst marks another key step in the evolution of the Kate Spade brand,” says Luis. “She brings a rare combination of business acumen, directly related fashion experience and strong leadership skills to the company. Together with recently appointed creative director Nicola Glass, we now have the right senior management in place to lead the talented Kate Spade brand team and drive the business globally.”
Until January of this year, Bakst served as group president of accessories and footwear and luxury lifestyle brand Michael Kors. Prior to joining Michael Kors in 2003, she had a 12-year career at Donna Karan International, ultimately as president of accessories and footwear.
“I believe the Kate Spade business has tremendous opportunity across product categories, channels and geographies,” adds Bakst. “I look forward to leveraging the brand’s global potential and to bringing its unique and empowering feminine positioning to women around the world.”
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By GlobalDataLast month, Luis said Tapestry’s second-quarter performance exceeded expectations, driven by a return to growth for Coach, sales gains at Stuart Weitzman and the contribution of Kate Spade. He also announced a series of “important business development initiatives”, designed to allow each brand to assume greater direct control over its international distribution.
Tapestry hails Q2, announces “development initiatives”
