Mothercare appoints new CEO as it posts drop in profit
Mothercare has appointed Daniel Le Vesconte as its new chief executive.
Due to join the Mothercare board in the new calendar year, Le Vesconte has extensive experience of working in the direct to consumer, franchise, wholesale and licensing sectors.
Most recently, he held the role of GVP, global brands, EMEA and head of global corporate development at Abercrombie & Fitch, and prior to that was president of EMEA at Dr Martens. His career has also included stints as managing director, EMEA at Wolverine Worldwide and senior roles at Vans owner, VF Corporation.
Clive Whiley, Mothercare chairman, said “I am delighted that Dan is joining Mothercare as our CEO. Dan’s extensive experience in the retail direct-to-consumer, wholesale and licensing sector will be a great asset to the team and me as we focus upon restoring critical mass and driving the Mothercare brand globally over the next five years.”
The news came as Mothercare announced that its profit declined to £0.4 million from £3.6 million in the six months to 24 September. Revenue was also down with a drop to £38.5 million from a previous £41.7 million, although international retail sales by franchise partners climbed by 15% in the period.
The company said its recovery to pre-pandemic levels is taking time.
Whiley said: “Our immediate priority now remains to support our franchise partners as we together navigate out of this suppressed demand period, recover from supply chain disruptions and rebuild their store footfall whilst growing their digital sales.”
