The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
BERLIN, Germany — Adidas has extended the German sportswear company's management shake-up under its new chief executive, promoting Western Europe head Gil Steyaert to global operations chief and appointing its first female executive board member since 1993.
CEO Kaspar Rorsted has made improving diversity one of his top priorities since taking over in October from long-serving predecessor Herbert Hainer.
Adidas said in a statement on Wednesday that the supervisory board had elevated Karen Parkin, human resources head since 2014, to the executive board, the first woman in the top team since 1993 when Gilberte Beaux led Adidas as interim CEO.
In March, Rorsted appointed Harm Ohlmeyer as finance chief, replacing Robin Stalker, who served alongside Hainer for 16 years.
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Steyaert, a 54-year-old French national who joined Adidas in 1999, will replace Glenn Bennett, who had been on the executive board for 20 years and was responsible for sourcing.
Adidas said the move, which takes effect by Oct. 1, had come because Bennett had informed the supervisory board he would not extend his contract when it expires in March 2018.
By Emma Thomasson; editors: Arno Schuetze and David Goodman.
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.