PARIS — Danish jewelry maker Pandora has appointed Björn Gulden as chief executive officer, capping a five-month search for an executive capable of turning around its waning fortunes.
Gulden is managing director of the Germany-based Deichmann Group, Europe’s largest shoe retailer, and president and ceo of its Rack Room and Off Broadway U.S. retail chains. Before that, he spent eight years with Adidas.
He will take over on March 1 from interim ceo Marcello Bottoli, who was appointed in August after his predecessor, Mikkel Vendelin Olesen, resigned following a profit warning that caused the company’s shares to fall by nearly 65 percent in a single session.
Allan Leighton, chairman of Pandora, said: “Björn is an outstanding executive who has impressed me with his knowledge and hands-on experience from many years in the retail and wholesale business around the world.”
He also praised the performance of Bottoli, who will become deputy chairman of the Pandora board once Gulden takes up his post.
Pandora said the announcement would have no impact on its guidance for 2011.
Known for its charm bracelets, Pandora, which sells its jewelry in more than 65 countries, previously said that revenue this year will be in line with the 6.67 billion Danish kroner, or $1.19 billion at current exchange, it posted in 2010. Originally, the firm anticipated revenue growth of “no less than 30 percent.”
Its sales plummeted by around 30 percent in July after Olesen hiked prices to compensate for increased gold and silver costs, a tactic that did not go well with thrifty consumers.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion