General Motors (GM) has added Joanne Crevoiserat, CEO of Tapestry Inc. (Coach, Kate Spade, Stuart Weitzman), to its board of directors.
When it comes to getting premium prices for utilitarian products, few would argue that luxury purse brand Coach doesn’t get it right. And, in a bid to get a better understanding of what passes for luxe and chic in 21st Century America (and beyond!), GM has turned to one of the fashion industry’s most prominent and successful voices: that of Joanne Crevoiserat.
Crevoiserat was previously a C-level executive (COO) at Abercrombie & Fitch, and an executive VP of finance for Kohl’s corporation with a reputation for understanding both fashion trends and data, and making the right calls at the right time.
Upon Crevoiserat’s appointment as Tapestry CEO in 2020, Susan Kropf (an independent member of Tapestry’s Board of Directors) wrote that, “after completing a comprehensive internal and external search, the Board unanimously concluded that Joanne is the best candidate to lead Tapestry’s next chapter of growth as CEO. Since taking on the role of Interim CEO in July, Joanne has led with a customer-centric, data-driven approach, an understanding of the unique needs and advantages of our house of brands and a focus on execution and growth. Joanne has a passion for our brands and our Company, deep financial and operational expertise and a belief in the power of our teams.”
Coach Knows Premium
It remains to be seen how much of Crevoiserat’s input will be felt on GM’s future products, but if the company is serious about raising Cadillac back to its “standard of the world” reputation with $300,000 flagship sedans, they could do far, far worse than listening to one of the sharpest minds in fashion.
That’s our take, anyway — what’s yours? Do you think this latest addition to the GM board will help the brand continue to grow into an electrified powerhouse, or is engineering, not fashion, more of what’s needed? Head on down to the comments and let us know!
SOURCE | IMAGES: GM, VIA DETROIT NEWS.
