Tapestry Inc. has appointed Eva Erdmann as CEO and brand president of Kate Spade. Erdmann, a former beauty executive, will be responsible for overseeing all facets of the luxury Apparel & Accessories brand, with a focus on improving innovation, consumer connections and sustainable global growth, according to a company news release.

She will join Kate Spade in October, succeeding Liz Fraser, who leaves in September after holding the position since 2020. Erdmann will report directly to Tapestry CEO Joanne Crevoiserat and become a member of the company’s executive committee.

In a LinkedIn post, Erdmann highlighted Kate Spade as a purpose-driven brand with significant growth potential.

“I look forward to collaborating with the team to advance the mission of this powerful brand — bringing joy and self-expression to consumers around the world — and driving profitable growth for years to come,” she wrote.

Tapestry, formerly Coach Inc., acquired Kate Spade for $2.4 billion in July 2017. The parent company, which also owns the Coach and Stuart Weitzman brands, is No. 43 in the Top 1000, Digital Commerce 360’s database of the largest North American online retailers by annual online sales. Digital Commerce 360 projects that Tapestry’s web sales in 2024 will reach $2.01 billion.

Tapestry web sales by year

Erdmann’s path to becoming Kate Spade’s CEO

Erdmann joins Kate Spade from L’Oréal, where she was global president of Urban Decay Cosmetics since 2018, driving revenue and profit growth, per the news release. Prior to that, she held various senior management positions at L’Oréal, including general manager of Lancôme France.

In addition, Erdmann spent several years in marketing at Christian Dior Beauty, a brand that LVMH owns. There, she played a key role in developing and driving international growth strategies for Europe and Asia Pacific, Tapestry noted in its release. She holds a master’s degree in engineering from ENSGI (École Nationale Supérieure de Génie Industriel in Grenoble, France) and a master’s degree in marketing from HEC Paris (École des Hautes Études Commerciales de Paris).

In a statement, Crevoiserat praised Erdmann as a skilled global brand-builder. She said Ermann has a deep understanding of the consumer market and a proven track record with luxury brands.

“I am confident she is the right leader to unlock the significant runway for growth at the iconic Kate Spade brand,” Crevoiserat said.

Kate Spade’s recent challenges

Erdmann’s appointment comes during a period of revenue declines for Kate Spade.

For the fiscal third quarter ended March 30, the brand reported a 6% revenue drop year-over-year to $280.7 million for the period.

Tapestry, the parent company, also saw a 2% revenue decline to $1.48 billion for the same period. Online sales made up over 25% of revenue. Moreover, Tapestry online sales were more than three times as high as pre-pandemic levels.

“Importantly, our digital business is underpinned by Tapestry’s data-rich platform and leading capabilities, which has enabled us to seamlessly meet consumers where and how they’re shopping across their purchase journey,” Crevoiserat noted during a company earnings call.

While direct-to-consumer sales fell 4%, this was offset by a 20% increase in wholesale sales. Additionally, Tapestry’s launch of new immersive retail experiences and concepts globally enhanced brand awareness and increased engagement among younger consumers, the company reported.

Tapestry is set to report its fiscal 2024 fourth-quarter and full-year results on Aug. 15. It projects annual revenue of over $6.6 billion, roughly in line with the prior year, and about 1% growth on a constant currency basis.

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