The former Tapestry executive is expanding his role beyond executive chairman and taking on an undisclosed increased investment in the luxury outerwear brand. Luis previously sought to invest in the brand in June, becoming an operating partner alongside Cathay Capital. Co-founders Noah Stern and Ayal Twik will step down as co-chief executives and will now hold the positions of chief product officer and chief marketing officer, respectively.
The company, which is privately held, has reported double-digit, year-over-year growth over the past five years. It is now focusing its expansion into China, a market Luis has prior experience in.
Luis was responsible for a turnaround at Coach brand, rehabilitating the ailing label through international expansion, particularly in China, as well as acquiring Stuart Weitzman and Kate Spade to form Tapestry.
The chief executive of newly formed ‘modern luxury’ group Tapestry Inc speaks to BoF about competing in an uncertain world, the enduring power of brands and the challenges of managing off-price channels.