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Cape Town - Richemont, the luxury brands business controlled by the Rupert family, on Friday announced the appointment of Marty Wikstrom as CEO of its fashion and accessories businesses.
Wikstrom will take charge of Richemont's Alfred Dunhill, Lancel, Chloe, Azzedine Alaia and Shanghai Tang Maisons. Richemont's fashion and accessories division has been a weak spot in the group's brand offering in recent years.
Wikstrom, who has served as a non-executive director of Richemont since 2005, has wide-ranging experience in speciality retailing. She previously headed Nordstrom's Full Line Store Group in the USA and served as MD of Harrods Ltd.
She is also a founding partner in Atelier Management, which specialises in the acquisition and development of luxury brands.
Wikstrom has a tough task in tweaking performance at Richemont's fashion and accessories business. In the year to end-March 2009, Alfred Dunhill reported a modest decrease in sales and again failed to reach break even, while Lancel's sales were 8% lower than the prior year with operating losses doubled to €8m.
Chloe's sales and profits were well below the level of the previous year.
Richemont chairperson Johann Rupert said he was delighted Wikstrom had accepted the offer to join the group.
"The creation of this new position and Marty's appointment reaffirms Richemont's commitment to our fashion and accessories maisons."
Rupert said Wikstrom brought considerable experience and knowledge in building and nurturing enduring consumer relationships across brands and product categories.
"She has the proven ability to translate extraordinary customer service into business expansion."
- Fin24.com