Tapestry, Inc. (NYSE: TPR), a leading New York-based house of modern
luxury accessories and lifestyle brands, today announced the appointment
of Anna Bakst as Chief Executive Officer and Brand President of Kate
Spade. She is expected to join the company on March 26, 2018 and will
succeed Craig Leavitt, who in the wake of the Tapestry, Inc.
acquisition, made the decision to exit the brand in 2017. In this role,
Ms. Bakst will be responsible for all aspects of Kate Spade globally and
will report to Victor Luis, Tapestry, Inc.’s Chief Executive Officer,
who has been leading the brand in an interim capacity since Mr.
“The appointment of Anna Bakst marks another key step in the evolution
of the Kate Spade brand,” said Victor Luis, Chief Executive Officer of
Tapestry, Inc. “She brings a rare combination of business acumen,
directly related fashion experience and strong leadership skills to the
company. Together with recently appointed Creative Director Nicola
Glass, we now have the right senior management in place to lead the
talented Kate Spade brand team and drive the business globally.”
Ms. Bakst has over 25 years of experience managing and cultivating
businesses for global fashion houses, most recently at Michael Kors
where, until January 2017, she held the role of Group President of
Accessories and Footwear. In her role, she led the global design,
production and merchandising teams, as well as overseeing domestic
wholesale distribution. Ms. Bakst joined Michael Kors in 2003, leading
the successful launch of the company’s Accessories and Footwear
businesses. Prior to Michael Kors, she had a 12-year career at Donna
Karan International, ultimately as President of Accessories and
Footwear. Ms. Bakst holds an MBA from Stanford University and a BS in
Industrial Engineering from Purdue University. Ms. Bakst is on the Board
of Directors of Modern Meadow. She is also an Associate Professor at
Pratt Institute’s Design Management program.
Victor Luis added, “Anna’s focus on product innovation – notably in the
key categories of accessories and footwear – will be a key pillar of the
Kate Spade growth strategy. Her deep experience in design, development
and merchandising, and her global consumer knowledge will be invaluable
assets propelling Kate Spade’s next chapter of growth.”
“I am extremely excited about leading Kate Spade’s passionate and
accomplished team and joining Tapestry’s house of brands,” said Ms.
Bakst. “I believe the Kate Spade business has tremendous opportunity
across product categories, channels and geographies. I look forward to
leveraging the brand’s global potential and to bringing its unique and
empowering feminine positioning to women around the world.”
Tapestry, Inc. is a New York-based house of modern luxury lifestyle
brands. The Company’s portfolio includes Coach, Kate Spade and Stuart
Weitzman. Our Company and our brands are founded upon a creative and
consumer-led view of luxury that stands for inclusivity and
approachability. Each of our brands are unique and independent, while
sharing a commitment to innovation and authenticity defined by
distinctive products and differentiated customer experiences across
channels and geographies. To learn more about Tapestry, please visit www.tapestry.com.
The Company’s common stock is traded on the New York Stock Exchange
under the symbol TPR.
This information to be made available in this press release may
contain forward-looking statements based on management's current
expectations. Forward-looking statements include, but are not limited
to, statements that can be identified by the use of forward-looking
terminology such as "may," "will," “can,” "should," "expect," "intend,"
"estimate," "continue," "project," "guidance," "forecast,"
"anticipated," “moving,” “leveraging,” “targeting,” “assume,” “plan,”
“pursue,” “look forward to,” “on track to return,” “to achieve” or
comparable terms. Future results may differ materially from management's
current expectations, based upon a number of important factors,
including risks and uncertainties such as expected economic trends, the
ability to anticipate consumer preferences, the ability to control costs
and successfully execute our transformation and operational efficiency
initiatives and growth strategies and our ability to achieve intended
benefits, cost savings and synergies from acquisitions, etc. Please
refer to the Company’s latest Annual Report on Form 10-K, Quarterly
Report on Form 10-Q, and its other filings with the Securities and
Exchange Commission for a complete list of risks and important factors.
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