The shoe company, owned by Tapestry, said in a statement that it “is committed to an environment where every individual feels respected and at times his behavior fell short of these standards”.
Stuart Weitzman goes through another executive team upheaval. The luxury footwear company, owned by Tapestry (formerly Coach), announced the departure of Giovanni Morelli, creative director of the group since August 2016. The move comes just a month after Stuart Weitzman appointed Eraldo Poletto, former executive of Salvatore Ferragamo, as new chief executive officer.
Through an official statement, the company said that “while we greatly admire Giovanni’s creative talents, Tapestry is committed to an environment where every individual feels respected and at times his behavior fell short of these standards”. While the company is looking for a new artistic director, the in-house design team will take over the reins under the supervision of Poletto.
Giovanni, formerly at Loewe, replaced Stuart Weitzman’s homonymous founder at the artistic helm, after he decided to step aside and give up the creative reins of the group to assume the chairman position. The movement was similar to what happened in other luxury brands such as Donna Karan or Ralph Lauren.
Stuart Weitzman hired Giovanni Morelli in August 2016, following the resignation of the namesake designer to lead the creative direction
The current CEO of Stuart Weitzman joined the company at the end of last month, replacing Wendy Kahn. Until February 2018, Poletto occupied the same position at Salvatore Ferragamo.
Tapestry, based in New York and owner of the Coach, Kate Spade and Stuart Weitzman brands, ended the first six months of fiscal year with a profit of 45.5 million dollars (36.5 million euros), compared to the 317.1 million dollars (255 million euros) registered a year ago. In the same period, sales grew 30.3% due to the purchase of Kate Spade, up to 3,073.9 million dollars (2,472 million euros).