Versace appoints Cedric Wilmotte as interim chief executive officer

Capri Holdings Limited has announced Cedric Wilmotte as the interim chief executive officer for luxury fashion label Versace.

Effective January 21, Wilmotte will serve as interim chief executive officer through December 31, 2022. During this time he will work closely with Donatella Versace, chief creative officer.

New interim chief at Versace

Wilmotte is replacing Jonathan Akeroyd, who will leave the brand on March 31, 2022. Akeroyd has held the position since 2016. Capri Holdings will continue to search for a permanent replacement for Akeroyd.

Wilmotte has previously served as president of the EMEA region at Michael Kors, having held the position for 13 years. Prior to that, he held leadership positions at Marc Jacobs and Donna Karan.

“I am thrilled to have Cedric in this role as he has an exceptional breadth of luxury retail expertise,” said John D. Idol, chairman and chief executive officer of Capri Holdings.

“I am confident that under his leadership, Versace will be able to continue to execute on its growth strategy and build upon the brand’s incredible momentum.”

In the three months to September 25, revenue at Versace jumped 45 percent to 282 million dollars compared to a year earlier, as revenue at Capri Holdings increased 17 percent to 1.3 billion dollars.

The group made a net income of 200 million dollars, compared to 122 million dollars a year earlier.