Vincent Wauters is out as CEO after a four-year stint leading the premium footwear brand. Paolo Porta will assume his responsibilities on an interim basis and Andrew Lawley has been appointed as executive chairman.
The perfume maker has announced a 46.8% decline in Q1 net income, due to hefty sales declines in the Middle East and Asia early in the quarter, followed by decreases in other markets as the coronavirus pandemic evolved.
The perfume maker announced on Wednesday that its sales dropped 18.7% in the first quarter, with Coach and Guess-branded fragrances helping to offset some of the negative impact of the ongoing Covid-19 pandemic.
Fashion and luxury brands worldwide have launched a wide ranging array of sustainable initiatives, timed to coincide with the 50th anniversary of the day dedicated to environmental reform on Wednesday, April 22.
Animal rights organisation Peta has taken advantage of the downturn in the stock markets. Peta’s U.S. subsidiary has bought shares in around 20 businesses including Kering, Burberry, Ralph Lauren, and Guess.