Stella McCartney Overhauls Leadership

Stella McCartney renews its top management. The British company appoints Tom Ford’s former COO for more than ten years, Tom Mendenhall, new CEO of the company, who will replace Amandine Ohayon, who has resigned after two years in the position. This appointment takes place after the fall of the company’s results at the end of 2023, which halved its sales and doubled its losses, as well as the new stage as an independent company.

Mendenhall will take over at the British fashion company after presiding over brands such as Polo and Double RL at Ralph Lauren, and spending more than eighteen years at Tom Ford, the last ten as chief operating officer, and at Domenico De Sole as executive vice president. The executive was also in charge of global marketing for the Gucci group, where he coincided with designer Stella McCartney.

Amandine Ohayon, who took over in 2023, has been thanked by the brand in a statement released through WWD, “for her entrepreneurial spirit, accomplishments and strong leadership during her separation from LVMH,“ which was announced in a statement.The group chaired by Bernard Arnault divested 49% of the capital it had held since 2019, following Kering’s exit from the brand’s capital.

Stella McCartney posted results at the end of 2023 with a decrease in turnover of up to 18 million pounds.

Stella McCartney, now wholly owned by the British designer, closed its 2023 financial year (ending December 31, 2024) soaring into the red, while halving sales during the period.

At the close of 2023, the company’s turnover stood at 21.9 million pounds (25.9 million euros) compared to 40 million pounds (47.4 million euros) the previous year. The group also multiplied its losses from £10 million (€11.8 million) to £24.6 million (€43 million) a year ago.

The company currently has more than 48 company-owned stores and 21 franchises in New York, London, Paris, Milan, Tokyo, Shanghai and Beijing, and operates in 77 countries through 863 specialized outlets and department stores. As for its online retail network, it is available in 100 countries.