Nextail CEOs report: Fashion businesses making more conservative hires as they look to secure a digital future
11 February 2022, Mumbai:
Fashion companies chose to hire CEOs with deep sector knowledge and leadership experience in 2021, as they sought to create a strong platform for growth and digital transformation.
Fashion’s Newest CEOs, the annual report, published with an eye to what to expect in 2022, analyzes all the major hires in the sector. It highlights the broadly conservative choices businesses have made when changing leadership in 2021.
Furthermore, the appointments have been predominantly male and have, in the majority of cases, operational experience, as opposed to design or marketing.
Says Joaquín Villalba, Chief Executive of Nextail, which produces the report: “If an incoming CEO already has a depth of knowledge and experience, they can sort the basics out quickly before moving on to the rest of the business.
With omnichannel, the new normal, and there being a pressing need to improve systems to reduce waste, companies need to evaluate their use of data and bring the digital into the heart of their operations.” Interestingly, the luxury market was particularly active in bringing in new CEOs, with an 80% YoY growth in appointments and accounting for close to 20% of the total.
The most notable aspects are the replacement of two of the most long-serving leaders - Andrea Panconesi at LuisaViaRoma and Alain Wertheimer at Chanel - as well as the new arrivals at sector leaders Burberry and Michael Kors, and Capri Holdings.
ALSO READ: Ron Faris, the head of Nike's SNKRS, will lead the new Virtual Studios
About the report
To produce the report, Nextail collected publicly available information on executives announced to be joining fashion companies as CEO in 2021 and their predecessors.
About Nextail
Nextail is a platform of end-to-end inventory management solutions that delivers customer- centric, data-driven decisions so that brands and retailers can sell more with less stock.
Stay updated with the Latest Fashion startup news.
Powered by:
