Kate Spade boss Anna Bakst is exiting her role at the fashion brand.
Leaders at Tapestry, Inc. – the parent company of Kate Spade, Coach, and Stuart Weitzman – announced on Thursday that Bakst will be leaving the company at the end of the year.
The businesswoman served as chief executive officer and brand president at the label since April 2018.
“We thank Anna for the passion and commitment she has brought to her work at Kate Spade,” said Jide Zeitlin, chairman and chief executive officer of Tapestry, Inc. “We are moving ahead quickly with a search process. Our strong Kate Spade leadership team, working with Joanne, will take the business forward aligned with (designer) Nicola Glass’s creative vision.”
Tapestry executives have already started searching for Bakst’s successor. In the interim, Joanne Crevoiserat, Tapestry’s chief financial officer, will have direct oversight of Kate Spade’s strategy and operations, working closely with the brand’s senior leadership team.
And in spite of the upheaval within management, Zeitlin is pleased with how the brand is tracking.
“Quarter-to-date, Kate Spade’s performance is on track and we are confident in our ability to meet our holiday season goals. We look forward to providing details about our second quarter results during our upcoming earnings call in February,” he added.
Previously, Bakst worked as group president of Michael Kors for five years and as an executive at Donna Karan. She has not yet shared any of her future plans.
Designer Kate Spade, who founded the label in 1993, began selling her shares in the company in the late 1990s, with the brand later acquired by the Neiman Marcus Group and then Tapestry executives in July 2017.
Spade was found dead in her apartment in June 2018. Her death was ruled a suicide.
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