While American consumers remain optimistic about the economy amid the Covid-19 crisis, consumers expect to spend more only on must-have categories and less on apparel, according to a survey by McKinsey & Co.
The American cosmetics conglomerate has reported that it expects to see a 20% decline in sales in Q3 and also announced a series of measures it is implementing to counteract the effects of the ongoing health crisis.
Jimmy Choo’s loss is Coty’s gain. Choo CEO Pierre Denis is leaving the luxury footwear and accessories brand after eight years at the helm. He’ll step down from the role in late May and will become CEO of Coty.
Candace Craig Bulishak, who most recently served as chief marketing officer, will now serve as president, while former senior vice president of new product development and operations, Kim Tran, will become COO.
Claudia Marcocci, former SVP of Coty's Gucci Beauty, is taking over as brand general director of Parfums Christian Dior, succeeding Véronique Courtois, who stepped down from the role to lead Guerlain in November 2019.