Eraldo Poletto will quit on March 1 as chief executive and brand president of Stuart Weitzman, the American footwear company owned by the Tapestry group, to be replaced by Giorgio Sarné. The group, formerly called Coach, acquired Stuart Weitzman in 2015 for more than $530 million, but it has had trouble getting a return on the investment, especially after the departure one year later of the eponymous designer.
Poletto leaves after less than two years in the job. He had taken the place of Wendy Kahn, a former strong collaborator of the designer who founded the company. He had stepped down after a year and half. Prior to Stuart Weitzman, Poletto had been the CEO of Salvatore Ferragamo for less than two years and had previously run a major Italian leathergoods firm, Furla, for six years.
Sarné is currently president of Tapestry Asia and president and CEO of Coach Asia. He will be responsible for all aspects of the brand and work closely with its head of product design, Edmundo Castillo. Sarné has been with the group since November 2013.
Emmanuel Ruelland, currently vice president and general manager of Tapestry Southeast Asia & Oceania, will succeed Sarné as president of Coach Asia, a brief that includes Japan, Korea, Southeast Asia, Australia and New Zealand.
Tapestry added that Liz Fraser has been named CEO and brand president of Kate Spade, another American company recently acquired by the group. She is scheduled to join the company on March 1, assuming operational control of the brand from Joanne Crevoiserat, Tapestry’s chief financial officer, who has been in charge in an interim capacity since December 2019.
Tapestry also promoted Yann Bozec to president of Tapestry Asia Pacific. Bozec will also continue as president and CEO of Coach China.
Sarné, Fraser and Bozec will all join Tapestry’s executive committee.