François Kress may step down as CEO of Carolina Herrera

Carolina Herrera, the New York fashion label owned by Spanish group Puig, is reportedly on the verge of losing its CEO François Kress, who joined the company in March 2015, replacing Caroline Brown.

The top manager's departure may follow in the wake of the court case against Oscar de la Renta, originated by the latter's hiring of Laura Kim, a former Carolina Herrera designer, as creative director. According to Carolina Herrera, Laura Kim's hiring by Oscar De La Renta breaches the non-competition clause featured in the contract between Kim and Carolina Herrera.

Last July, François Kress offered Laura Kim a contract worth one million dollars a year to extend the scope of her activities in the design area, whilst she still worked at Carolina Herrera. Laura Kim did not accept the offer and left the company, according to Kim doing so against her will. Shortly afterwards she signed for Oscar de la Renta, taking over the post left vacant by Peter Copping.

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The non-competition clause invoked by Carolina Herrera would prevent Laura Kim to work for Oscar de la Renta only temporarily, until April 2017. Laura Kim's creations have enjoyed a significant commercial success thanks to their popularity with actresses and singers, a clientele which François Kress considers essential for the fashion label.