• Cedric Wilmotte most recently served as the group’s Versace brand’s temporary CEO.
• Capri cut its Christmas period sales and profit estimates in November.
• Joshua Schulman announced his departure in March.

Cedric Wilmotte, a seasoned business expert, was appointed as the CEO of Capri Holdings Ltd’s Michael Kors brand on Monday.

The 48-year-old Wilmotte, who will assume leadership on April 3rd, most recently served as the group’s Versace brand’s temporary CEO and is presently the label’s COO. From 2008 until 2021, he served as the EMEA (Europe, Middle East, and Africa) business leader for Michael Kors.

Joshua Schulman, the head of Capri’s Michael Kors brand and the man who would subsequently be named the group’s senior executive, announced his departure in March.

Michael Kors appointed Schulman as its CEO in August 2021.

The market for Capri’s Michael Kors products was also weakening at American wholesale merchants, according to Capri, which also owns the Jimmy Choo brand. Capri cut its Christmas period sales and profit estimates in November, citing China’s delayed recovery.

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