Tapestry Inc. [: tpr] said Friday it named Anna Bakst as Kate Spade's chief executive officer and brand president. The lifestyle company, which brands also includes Coach and Stuart Weitzman, said Bakst is expected to join the company on March 26, replacing Craig Leavitt, who left the company in 2017. Bakst was most recently Group President of Accessories and Footwear at Michael Kors Holdings Ltd. KORS, -1.83% "Anna's focus on product innovation--notably in the key categories of accessories and footwear--will be a key pillar of the Kate Spade growth strategy," said Tapestry Chief Executive Victor Luis. The stock, which was still inactive in premarket trade, has run up 17% over the past three months, while Michael Kors shares have lost 2.1% and the S&P 500 SPX, -2.52% has declined 1.5%.