Jimmy Choo say goodbye to CEO Pierre Denis, to quit in May

Jimmy Choo saluta Pierre Denis: il CEO lascia a maggio

Eight years after his appointment, Pierre Denis, managing director of Jimmy Choo, is about to quit. The Chief Executive Officer will leave the footwear brand, controlled by Capri Holdings, in May. The American group announced they are already looking for a new manager to take over. In the meantime, Denis has already signed an agreement with Coty, a US giant that specializes in making fragrances and cosmetic products.

Since 2012

In 2012, Denis took over as managing director: he replaced his predecessor, Joshua Schulman. Over those 8 years, several changes affected the brand. Two most of all. The former: the brand listing at the London Stock Exchange, in 2014. The latter: the transfer of ownership from Jab holding to former Michael Kors Holdings. It took place in 2017: the worth of the deal amounted to 1.35 billion US dollars.

John Idol’s salute

John Idol, president and Chief Executive Officer of Capri Holdings, pointed out: “Pierre was a great leader of Jimmy Choo. He ensured rewarding and consistent performances; on top of that, he fostered the growth of the brand. He is leaving today a very healthy business”.

Jimmy Choo numbers

According to Capri Holdings forecast, at the end of 2019-2020 financial year, which is due to close on 31st March, Jimmy Choo overall revenues will supposedly amount to 578 million dollars, therefore decreasing compared to the previous business year (earnings amounted to 590 million dollars). In the first nine months, the brand reached, in terms of earnings, 448 million dollars: they will expectedly make 130 million dollars in the fourth and last quarter. In the third quarter revenues amounted to 165 million dollars: they increased by 1.9% on annual basis. Last year, in December, Capri Holdings bought out Alberto Gozzi, a shoe factory based in Pistoia, which manufactures for Jimmy Choo. Last year the brand announced they were planning to enhance investments in leather goods collections.

In the picture, a clip taken from jimmychoo.com and, in the box, Pierre Denis (Shutterstock)

 

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