LONDON, October 20, 2021--Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced that Jonathan Akeroyd will be stepping down as Chief Executive Officer of Versace to pursue another opportunity that will enable him to return to the United Kingdom and be closer to his family. Mr. Akeroyd will remain with Versace through March 31, 2022, and will work with John D. Idol, Chairman and Chief Executive Officer of Capri Holdings, to provide full support to the executive leader
After half a year or more of growth, luxury stocks such as LVMH Moet Hennessy Louis Vuitton (OTC: LVMHF) and Capri Holdings (NYSE: CPRI) took a hit recently when China cracked down on Macao casinos as part of a wider cultural offensive against westernization. After getting bid down, however, the luxury sector got a boost this week when Moet Hennessy's third-quarter 2021 results came in strong. The positive data that perked up the stock market arguably provides a basis for a bullish outlook -- with a few lingering caveats.
Pauline Brown, Former LVMH Chairman of North America and Author of 'Aesthetic Intelligence’, joins Yahoo Finance to discuss the state of luxury retail, sales growth, and supply chain issues.