NEW YORK--(BUSINESS WIRE)--Tapestry, Inc. (NYSE: TPR), a leading New York-based house of modern luxury accessories and lifestyle brands, today announced the appointment of Eraldo Poletto as Chief Executive Officer and Brand President of Stuart Weitzman. He is expected to join the Company on April 30, 2018 and will succeed Wendy Kahn, the brand’s current Chief Executive Officer and Brand President, who is leaving the Company. In this role, Mr. Poletto will be responsible for all aspects of Stuart Weitzman globally, partnering closely with the brand’s Creative Director, Giovanni Morelli. Mr. Poletto will report to Victor Luis, Tapestry, Inc.’s Chief Executive Officer.
Mr. Poletto most recently held the role of Chief Executive Officer of Salvatore Ferragamo Sp.A. Previously, from 2010 until 2016, he was the Chief Executive Officer of Furla, instrumental in the development, growth and globalization of the brand. From 1997 to 2010, Mr. Poletto was at Retail Brand Alliance, Inc., the parent company of Brooks Brothers, holding progressively more senior leadership positions including the roles of President of Strategic Development & International Business and Chief Merchandising Officer. Mr. Poletto started his career in fashion in Italy at Miroglio Group, and holds a degree in Economics from the University of Turin and a Masters in Fashion, Retail and Textile Management from ISTAO, Istituto Adriano Olivetti in Ancona.
“Stuart Weitzman is at important point in the brand’s evolution with the upcoming launch of Giovanni’s first collection and the recent buyback of its Northern China business, taking greater control of the brand’s destiny through an increased level of direct ownership. In Eraldo, we have found a leader who, over the last 30 years, has acquired both the global luxury experience and deep understanding of iconic brands to drive results” said Victor Luis, Chief Executive Officer of Tapestry, Inc. “He brings a proven, successful track record in building and engaging teams and in developing and maximizing international growth across all fashion categories”
“I am thrilled by the opportunity to lead this iconic brand,” said Mr. Poletto. “Stuart Weitzman footwear has long represented quality, style, and the beautiful combination of form and fit. I look forward to working with the team to build on this foundation as we evolve into a global, multi-category brand. It is my goal to continue to delight our customers with innovative products, amazing client experiences, and marketing programs that celebrate the confident women around the world who love our brand.”
Mr. Poletto will succeed Wendy Kahn, who has been Chief Executive Officer and Brand President of Stuart Weitzman since September 2016. "We have great appreciation for Wendy’s accomplishments and her leadership has been instrumental to the development of Stuart Weitzman during our integration period,” said Victor Luis. "We wish her every success in the future and look forward to welcoming Eraldo.”
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.