Bengaluru — Tapestry replaced CEO Victor Luis with long-time chair Jide Zeitlin on Wednesday, just weeks after the high-end fashion house cut its full-year earnings forecast and warned of trouble at its Kate Spade brand.

Luis stepped into the CEO role more than five years ago with the aim of transforming Tapestry into a global fashion house after successfully building the company’s business in China, the world’s fastest-growing market for luxury goods...

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