Michael Kors Names New President In Japan

Michael Kors has named Daisuke Yamazaki president in Japan, effective August 10. Yamazaki will replace Toshi Tashiro, who has announced his retirement. Tashiro will stay on through the end of 2015. Yamazaki joins Michael Kors from Roberto Cavalli Japan where he was CEO. Prior to that, he was CEO of the Alexander McQueen Division of Gucci Japan Limited. He also spent 15 years with Girogio Armani Japan. Luxury accessories companies have been under pressure due to the devaluation of the yuan. Michael Kors announced its earnings last week, which beat FactSet consensus estimates, but net profit was still down from the year prior.