Irvine, CA – July 18, 2013 – The Board of Directors of St John Knits announced today that Bernd Beetz has been named Chairman of the Board, effective immediately.
“Bernd is a seasoned organization builder and brings an extraordinary level of leadership to the company,” said Jim Kelley, a Founding Partner of majority shareholder Vestar Capital Partners. “With the recent investment by Fosun International and our continued interest in global expansion, we are thrilled to have Bernd both as a partner in this venture and as Chairman of our Board at this pivotal time.”
Mr. Beetz is one of the most prolific executives in the luxury goods industry with almost 40 years of experience. He most recently served as the Chief Executive Officer of Coty Inc. from 2001 to 2012. During his tenure, he developed an ailing business into an industry powerhouse by building the organization and its brands. Coty’s revenue increased from $1.4B to nearly $5B during his time at the company and recently went public with a capitalization of close to $7B.
Bernd Beetz mastered similar challenges as President and CEO of LVMH-owned Parfums Christian Dior France and held various management positions during his 20 years at The Proctor & Gamble Company.
“I’m thankful to Fosun for bringing me this investment opportunity and am thrilled to help usher in a new era at St. John, an iconic American brand with the potential of enormous global reach,” said Mr. Beetz. “I look forward to working with the members of the Board to institute a strong leadership structure that will position the company for even greater worldwide success in the future.”
“We have long admired Bernd Beetz and are happy to have him as our new Chairman of the St. John Board,” said Patrick Zhong, Senior Managing Director at Fosun International. “The brand’s potential is enormous and there is no one better suited to help us exploit that potential than Bernd.”
Bernd Beetz Appoints Geoffroy van Raemdonck CEO of St. John Knits
Irvine, CA – July 22, 2013 – Bernd Beetz, Chairman of St. John Knits, announced today that Geoffroy van Raemdonck has been appointed Chief Executive Officer of the company. Mr. van Raemdonck succeeds Glenn McMahon, who served as CEO since 2007.
“Geoffroy has an unparalleled understanding of global wholesale and retail that will be integral as we move into the next phase of the company’s history,” said Bernd Beetz, Chairman of St. John Knits. “He is an excellent leader to drive the executive team and to continue to strengthen and grow the business worldwide.”
A seasoned executive with almost 20 years of experience in retail, Mr. van Raemdonck most recently served as President – South Europe for Louis Vuitton, where he led company operations in 22 countries which generated sales of over $1B. He held several senior level positions during his years at the company. He also previously held positions at Limited Brands and The Boston Consulting Group.
“I am honored to have the opportunity to join an industry force like Bernd Beetz and to further propel this iconic American brand into a phenomenal international business,” said Mr. van Raemdonck. “I look forward to working with the Board and executive team to build upon the strong and successful foundation that they have created.”
St. John Knits retained Herbert Mines Associates in the search for the new CEO.
About St. John Knits
St. John, one of the premier names in American fashion, was founded in 1962. St. John has evolved from a family run operation to the global luxury brand known today. The company, headquartered in Southern California, now employs over 2,500 people and is a vertical operation with offices worldwide. Its collection is sold by top specialty store retailers in 26 countries and 25 company-owned retail boutiques. For more information on St. John, visit the company’s website at www.discoverstjohn.com.
