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Capri Holdings Limited Appoints Emmanuel Gintzburger as CEO of Versace
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Capri Holdings Limited (NYSE:CPRI) announced the appointment of Emmanuel Gintzburger as the new Chief Executive Officer of Versace, effective September 12, 2022. Gintzburger previously served as CEO of Alexander McQueen and held senior roles at Saint Laurent and Lanvin. This leadership change aims to accelerate Versace’s growth and enhance its market position. Chairman John D. Idol expressed confidence in Gintzburger's capabilities to drive the brand's success.
Positive
Appointment of Emmanuel Gintzburger, a seasoned executive, as CEO of Versace, expected to bring fresh perspectives.
Gintzburger's extensive experience in luxury fashion may enhance Versace's strategic initiatives and growth.
Negative
Transition to a new CEO may present initial continuity challenges as Gintzburger adapts to his role.
LONDON--(BUSINESS WIRE)--
Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced the appointment of Emmanuel Gintzburger as Chief Executive Officer of Versace effective September 12, 2022. Mr. Gintzburger will report to John D. Idol, Chairman and Chief Executive Officer of Capri Holdings.
Versace (Photo: Business Wire)
Mr. Gintzburger joins Versace from Alexander McQueen, where he served as CEO since May 2016. Prior to joining Alexander McQueen, Mr. Gintzburger was Worldwide Retail and Wholesale Director for Saint Laurent from 2011 to 2016, having joined the Parisian fashion house in 2009 as the Europe Retail Director. From 2007 to 2009, he served as International Retail Director at Lanvin, and prior to that he held regional retail and marketing leadership roles at Sephora. Mr. Gintzburger also spent six years at Louis Vuitton in Hong Kong.
John D. Idol, Chairman and Chief Executive Officer of Capri Holdings, said, “I am excited to welcome Emmanuel as our new Chief Executive Officer of Versace. He has a proven track record of building global fashion luxury houses. We believe that Emmanuel’s vision for Versace will help us achieve our ambitions for the future. Versace already has strong momentum and Emmanuel’s leadership will help us further accelerate our plans and strengthen our strategic initiatives.”
Donatella Versace, Chief Creative Officer of Versace, said, “I am delighted Emmanuel has joined the Versace family; he has an amazing background in luxury. As soon as I met him, I knew he was the perfect partner to help us take Versace to even greater heights.”
Emmanuel Gintzburger said, “I am thrilled to be joining Versace as Chief Executive Officer. I have long admired the unparalleled style and fearless narrative of the house. I look forward to having the opportunity to partner with Donatella and the talented Versace management team to accelerate growth and strengthen the position of Versace as a leading fashion luxury house.”
About Capri Holdings Limited
Capri Holdings Limited is a global fashion luxury group, consisting of iconic brands that are industry leaders in design, style and craftsmanship. Its brands cover the full spectrum of fashion luxury categories including women’s and men’s accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear and a full line of fragrance products. The Company’s goal is to continue to extend the global reach of its brands while ensuring that they maintain their independence and exclusive DNA. Capri Holdings Limited is publicly listed on the New York Stock Exchange under the ticker CPRI.
Forward-Looking Statements
This press release contains statements which are, or may be deemed to be, “forward-looking statements.” Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Capri Holdings Limited (the “Company”) about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. All statements other than statements of historical facts included herein, may be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “plans”, “believes”, “expects”, “intends”, “will”, “should”, “could”, “would”, “may”, “anticipates”, “might” or similar words or phrases, are forward-looking statements. These forward-looking statements are not guarantees of future financial performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions, which could cause actual results to differ materially from those projected or implied in any forward-looking statements. These risks, uncertainties and other factors include the effect of the COVID-19 pandemic and its potential material and significant impact on the Company’s future financial and operational results if retail stores are forced to close again and the pandemic is prolonged, including that our estimates could materially differ if the severity of the COVID-19 situation worsens, or if there are further supply chain disruptions, including additional production delays and increased costs, the length and severity of such outbreak across the globe and the pace of recovery following the COVID-19 pandemic; levels of cash flow and future availability of credit; compliance with restrictive covenants under the Company’s credit agreement; the Company’s ability to integrate successfully and to achieve anticipated benefits of any acquisition and to successfully execute our growth strategies; the risk of disruptions to the Company’s businesses; risks associated with operating in international markets (including the impact of the Russia-Ukraine conflict) and our global sourcing activities; the risk of cybersecurity threats and privacy or data security breaches; the negative effects of events on the market price of the Company’s ordinary shares and its operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the Company’s businesses; fluctuations in demand for the Company’s products; levels of indebtedness (including the indebtedness incurred in connection with acquisitions); the timing and scope of future share buybacks, which may be made in open market or privately negotiated transactions, and are subject to market conditions, applicable legal requirements, trading restrictions under the Company’s insider trading policy and other relevant factors, and such share repurchases may be suspended or discontinued at any time; the level of other investing activities and uses of cash; changes in consumer traffic and retail trends; loss of market share and industry competition; fluctuations in the capital markets; fluctuations in interest and exchange rates; the occurrence of unforeseen epidemics and pandemics, disasters or catastrophes; political or economic instability in principal markets; adverse outcomes in litigation; and general, local and global economic, political, business and market conditions, as well as those risks set forth in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended March 27, 2021 (File No. 001-35368). Any forward-looking statement in this press release speaks only as of the date made and the Company disclaims any obligation to update or revise any forward-looking or other statements contained herein other than in accordance with legal and regulatory obligations.
Who is the new CEO of Versace appointed by Capri Holdings?
Emmanuel Gintzburger has been appointed as the new Chief Executive Officer of Versace.
When did Emmanuel Gintzburger start his role as CEO of Versace?
Emmanuel Gintzburger officially began his role as CEO of Versace on September 12, 2022.
What experience does Emmanuel Gintzburger bring to Versace?
Gintzburger has extensive experience in luxury fashion, having previously served as CEO of Alexander McQueen and held leadership roles at Saint Laurent and Lanvin.
What are the expectations from the new CEO of Versace?
There is an expectation that Gintzburger's leadership will accelerate growth and strengthen Versace's position in the luxury market.
