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There’s a new trend in luxury fashion: executives exiting their high-level positions. The latest is Andrew Keith, CEO of upscale UK department store Selfridges, who will leave his post this fall to “pursue new ventures.”
No word yet on what these ventures might be or who will replace Keith, but for the time being, André Maeder, CEO of parent company Selfridges Group, will be subbing in.
“The launch of the Selfridges Strategy under Andrew’s leadership has resulted in many new customer innovations and enhancements,” Tos Chirathivat, chair of Selfridges Group and CEO of Central Group, Selfridges’ co-owner, told WWD. “He has also been instrumental in helping to drive and champion the brand’s creative expression through a roster of world-leading collaborations and thought-provoking campaigns.”
Keith, who first joined Selfridges in 2020 as managing director, has only been in the CEO role since June 2023. But in his short tenure, the veteran executive—who was previously president at Hong Kong’s Lane Crawford and Joyce—has faced a slew of challenges, including Covid-19, layoffs, and the luxury industry’s current woes.
All around the world: The luxury slump has led to a number of executive reshuffles, including at Tom Ford, where Creative Director Peter Hawkings left his position earlier this month, just a year after taking on the role. A few weeks ago at Burberry, after sales hit a snag, CEO Jonathan Akeroyd was abruptly replaced by Joshua Schulman, who was previously CEO of Michael Kors, Coach, and Jimmy Choo.