LONDON — Pierre Denis, the chief executive officer of Jimmy Choo who shepherded the company through a whirlwind of growth and change, is stepping down in May after eight years.
Denis joined Jimmy Choo in 2012 from John Galliano SA, and succeeded Joshua Schulman in the role. He was hired by Choo’s then-parent Labelux, now JAB Holding. During his tenure he helped to take the company public on the London Stock Exchange in 2014, with JAB maintaining a majority stake in the brand.
In 2017, Capri Holdings Ltd., then known as Michael Kors Holdings Ltd., purchased Jimmy Choo for $1.35 billion. The deal was a jaw-dropping 17.5-times Choo’s adjusted earnings before interest, taxes, depreciation and amortization, and well ahead of the 10.4-times to 15-times multiples seen in recent years, according to EY’s Luxury and Cosmetics Financial Factbook.
“He leaves a company that is in robust health. I would like to express my thanks and good wishes to Pierre as he moves on to his next role. Jimmy Choo has an excellent team in place, and I am confident that our luxury house will continue to grow,” Idol said, adding that a search to identify a new ceo is under way.
An industry veteran, Denis had also served as managing director for Christian Dior Couture in Asia and subsequently for Europe, the Middle East and India.
Prior to that, he was part of LVMH Moët Hennessy Louis Vuitton’s perfumes and cosmetics division, working with brands such as Christian Dior, Guerlain and Givenchy. Denis joined John Galliano in 2008.
He joined Jimmy Choo because it offered such a compelling story. “In the past 15 years it’s gone from zero to a global brand with multiple product categories. I’ll be part of the adventure now, and that is exciting,” he said in 2012.
Jimmy Choo is gunning for $1 billion in revenue, firing up its handbag and sneaker business, and building its wider community, online and off-line, via new projects, collaborations and pop-up shops.
“Now we want to be a global accessories brand,” Denis told WWD in a wide-ranging interview last year alongside chief creative officer Sandra Choi.
He said the strategy is about putting more “excitement” into Choo, and into the products, “and delivering to a new customer audience. It’s about products, products and products,” said Denis from the boardroom at Choo’s slick headquarters near Victoria Station in London.