Tom Mendenhall Appointed New CEO of Stella McCartney

Stella McCartney has just appointed its new CEO: Tom Mendenhall. He will succeed Amandine Ohayon, who has held the position of CEO for two years. Why such a change now? Since the fashion house took a gamble on independence by buying back LVMH's minority stake, Stella McCartney has been facing tensions in the luxury market, which has been hit by a lasting crisis. The company has therefore implemented a recovery plan aimed at long-term growth.

The choice of Tom Mendenhall seems a particularly wise decision. In a statement, the businessman, who has extensive experience in the luxury sector, said he was “honored to now be working with Stella McCartney and her incredible international team on the next stage of the company's development.”

His expertise will be fundamental to the future of the company. Mendenhall has previously worked for Ralph Lauren, Gucci, and Tom Ford in various management positions. He is also the co-founder of the men's clothing brand Jamestown Hudson. His skills and experience will therefore be essential in giving the brand new momentum while enhancing its identity.

Amandine Ohayon, who had the difficult task of leading the company during the split with LVMH, will continue to serve as an advisor until Mendenhall officially takes up his position. Last year, Stella McCartney was named “Person of the Year 2024” by the animal rights organization PETA. Her status as a pioneer in ethical and sustainable fashion has allowed her to continue her role as an advisor to Bernard Arnault's group on environmental issues. But this prestige has not translated into financial success: in 2023, the company's turnover was around €26 million, compared to more than €47 million the previous year. Since Stella McCartney regained her independence at the beginning of the year, the figures have continued to fall short of forecasts. It must be said that the current economic climate, characterized by a multifactorial crisis (both economic and geopolitical), is particularly critical for mid-sized luxury brands, which do not benefit from the desirability of major international brands.