New fashion CEOs more likely to be female with digital and deep retail know-how, according to Nextail report

New fashion CEOs more likely to be female with digital and deep retail know-how, according to Nextail report

PR Newswire

MADRID, Feb. 3, 2021

- Fashion companies appointed +100 new CEOs in 2020, despite COVID-19.

- New leadership shows patterns of strong executives ready to meet short- and long-term industry goals. 

MADRID, Feb. 3, 2021 /PRNewswire/ -- The modern fashion CEO is digitally savvy and ecologically aware, according to research by algorithmic merchandising firm Nextail, which looked at the skill-set of over 100 newly appointed CEOs of leading fashion brands.

The report, published today, provides a snapshot of where the fashion retail sector is heading as it grapples with a number of challenges and also highlights the growing number of women taking on the top job.

Nextail is a SaaS platform that enables agile merchandising decisions. Its latest report looks at major fashion retail CEO appointments made in 2020, primarily in Europe and the USA.

"Despite the consequences of Covid-19, businesses were planning for the future as much as attempting to deal with immediate issues," says Nextail CEO and Co-Founder, Joaquin Villalba. "The hiring of fashion retailers reflects their strategies for succeeding in the new retail landscape, entrusting leadership who will lead the way towards making fashion retail a better, more sustainable place." 

'Fashion's Newest CEOs at the top of 2021' notes that after a flurry of activity in the first quarter of 2020, appointments slowed down until after the first lockdowns. However, priorities seemed to remain constant: deep fashion and a well-rounded retail background, 63.7% of hires had existing C-Level experience; while setting forward-looking priorities, such as digital transformation and sustainability.

The rise of female fashion CEOs is notable. In comparison with predecessors, female leadership grew by 95.1%, including: Helena Helmersson at H&M and Sonia Syngal at Gap. 

Read the full report here.

About the report
Nextail collected publicly available information on fashion CEOs announced in 2020 and their predecessors. Primary source material included press releases from fashion companies, LinkedIn, and leading fashion and retail industry publications.

About Nextail
Nextail exists to make the retail world a better, more sustainable place by empowering retailers to offer better a customer experience with fewer resources. To fulfil this vision, Nextail has developed a cloud-based platform that combines AI and prescriptive analytics to deliver agile merchandising decisions. Customers include leading fashion and collection-based retailers such as Versace, River Island, and Pepe Jeans.

Press contact
Rebecca Moy, Content Marketer
Rebecca@nextail.co

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