Fashion’s 5 Highest Paid CEOs

It’s hard work running a fashion company, and these CEOs definitely have enough money in the bank to take a relaxing vacation now and then when the unpredictable cycle of the fashion industry throws them a curve ball.

Please keep in mind that this list may not reflect who is actually the highest paid fashion CEO because only publicly traded companies are required to list their executive compensation.

(5) On the bottom of our list is Kay Krill, the CEO of Ann Inc, who made $8,069,500 in total compensation in 2014. Ann Inc includes the popular office-wear company, Ann Taylor as well as Loft.

Here’s a breakdown of her compensation:

Salary: $1,200,000

Bonus: $2,339,574

Stock Options: $1,069,769

Stock: $3,154,196

Other type of compensation: $305,961

(4) Next we have Marvin Ellison, CEO of JCPenny who made $9,370,826 in total compensation in 2016. Even though JC Penny has plans to close 138 stores in 2017, it seems that their recent collaboration with popular actress, Tracee Ellis Ross may be helping them stay afloat for a while.

Here’s a breakdown of his total compensation:

Salary: $1,446,667

Bonus: $614,177

Stock Options: $1,750,000

Stock: $5,249,996

Other types of compensation: $309,986

(3) Leslie H. Wexner, CEO of L Brands corporation made $14,220,063 in total compensation in 2016. L Brands corporation includes the women lingerie company, Victoria’s Secret.

Here’s a breakdown of his total compensation.

Salary: $2,000,000

Bonus: $1,657,920

Stock Options: $2,231,003

Stock: $7,159,010

Other types of compensation: $1,172,130 came from other types of compensation

(2) Moving above the $10 million mark is Ralph Lauren, CEO of Ralph Lauren, who  made $13,034,332 in 2017.

Here’s a breakdown of his compensation:

Salary: $1,750,000

Bonus: $0

Stock: $0

Stock: $11,000,014

Other types of compensation: $284,318

(1) Mark G. Parker, long time CEO of Nike, made $13,851,499 in 2017.

Here’s a breakdown of his compensation:

Salary: $1,550,000

Bonus: $6,261,144

Stock Options: $1,542,750

Stock: $3,500,035

Other types of compensation: $997,570

 

 

 

CHRISTOPHER BAILEY TO STEP DOWN FROM HIS POST AT BURBERRY

Christopher Bailey, the man responsible for turning Burberry into one of the world’s coolest brands, is set to leave the label after 17 years at the helm of the heritage brand

On the 31^st October 2017 Burberry which is over 160 years old heritage brand, announced that Christopher Bailey  will step down from his role as president and chief creative head in March 2018, this news has sent shock waves throughout the fashion industry.

As the upcoming February 2018 show will be his last for the label, we sure can imagine it will be a spectacular farewell.  

Christopher Bailey was appointed as the design director at Burberry 2001, along with Angela Ahrendts (chief executive officer in 2006). The brand which was nearing to death in the early 2000 has undergone an incredible transformation since 2001 and Christopher Bailey was instrumental to the company’s success in that period.

The designer stated: “It has been a great privilege of my working life to be at Burberry, working alongside and learning from such an extraordinary group of people over the last 17 years.” He also added: “It has been a truly inspiring place to work and the decision to leave was not an easy one.”

Burberry’s chief executive officer Marco Gobbetti thanked Bailey, honoring the incredible turnaround he has performed at the fashion house: “While I am sad not to have the opportunity to partner with him for longer, the legacy he leaves and the exceptional talent we have at Burberry give me enormous confidence in our future. We have clear vision for the next chapter to accelerate the growth and success of the Burberry brand and I am excited about the opportunity ahead for our teams, our partners and our shareholders”.

Adele to Christopher Bailey “Mate, you’ll be missed but can’t wait to see what you do next. Love x”

The hit music artist, Adele took to Instagram to share her appreciation for Burberry’s creative director Christopher Bailey.

She said: “Christopher Bailey and Burberry were the first major fashion house to dress me and my big fat a**e!”

“He is so enthusiastic about all British talent and he always collaborates with my insecurities to create outfits for me that have become a signature for me and made me feel f**king great!”

Christopher Bailey concluded that after 17 years it will be the right time for him to pursue new creative projects.

Although there is no clue of who might take the helm at the brand, a recent report highlighted rumors that Phoebe Philo may soon be departing from the French brand Céline, but there is no indication to who will step in.

We can’t wait to see what Bailey does next.

Poonam Natasha

BoF China Summit 2017

On 11^th October 2017, before the Shanghai fashion week took to runway, the Business of Fashion (BoF) celebrated its third anniversary of BoF China with “BoF China Summit” also known as Lundao, meaning to discover the essentials through dialogue. This event was hosted in the Fosun Foundation in the heart of Bund with top entrepreneurs and executives from the fashion, tech and media industries. Some of the key speakers were – Thomson Cheng, vice chairman, MyMM, Michael Beutler, director of sustainability operations, Xia Ding, president of JD Fashion and JD.com, Andrew Robb, chief operating officer, Farfetch, Liang Chao, founder and CEO, Yoho! Paul Fang founder of Lifestyle management company, Suntchi and many more.

Imran Amed – founder and CEO of BoF, hosted the discussions and debates on the future of fashion from a global perspective. Before the summit, he stated: “China’s impact on the global fashion industry is simply unparalleled”. The main idea behind the summit was to create a platform of substance bringing inspiring minds together with a distinctively collaborative style and a voice of authority. The summit began with Xia Ding introducing Toplife.com and three major concerns for brands going online. Andrew Robb followed discussing the difference between luxury and mass production and making sure the right level of service is delivered to customers. Liang Chao and Thomson Cheng describing how the industry is now being run by the young generation, while Fang was describing how Chinese brands use business logic to develop their marketing plan and identifying opportunities. The summit culminated with Beutler suggesting some practices that can be followed to make an impact on sustainability in the future.

Vani Varma