Dov Charney Made $2 Million in 2012: Is It Too Much?
It looks like American Apparel might finally be out of the woods. That is, if Dov Charney’s 2012 paycheck is any indication.
Dov Charney
Wednesday March 27th, 2013
Tuesday March 5th, 2013
It’s a Miracle: American Apparel Actually Turned a Profit Last Quarter
Even Wall Street was surprised to learn that American Apparel turned a profit in the fourth quarter.
Thursday December 6th, 2012
American Apparel Ads Come Under Fire… Again
The recent lawsuit brought against Dov Charney for allegedly choking an employee isn’t the only reason American Apparel is in the news today: The retailer’s risque digital campaigns have been deemed “irresponsible” by an advertising watchdog in the UK, The Telegraph is reporting.
According to the complaints, American Apparel’s ads featured “gratuitous” nudity and the sexualization of models who appear to be under 16. We know… shocker.
Update: Dov Charney is Being Sued for ‘Choking’ an American Apparel Employee
Dov Charney is headed back to court–this time for allegedly choking a store employee and rubbing his face in dirt, the LA Times is reporting.
Friday July 20th, 2012
Russian Olympic Committee Denies They Want Uniforms From American Apparel
Earlier this week Dov Charney made headlines when he said that American Apparel was “in talks” with Russia to design Olympics apparel and merchandise for the Russian team for the 2014 Olympics. But, turns out that Russia’s Olympic and Paralympic Organizing Committee has no plans to manufacture its uniforms in the US. “The Sochi 2014 Read more →
Monday July 16th, 2012
Exclusive: Dov Charney Offered American Apparel’s Factory to Ralph Lauren to Help Produce ‘Made in the USA’ Uniforms for the Olympics
Looks like American Apparel may be designing the uniforms for some proud red, white, and blue-wearing Olympians…who aren’t American. In a conversation about clothing manufacturing and national pride that has come to a head today because of the Ralph Lauren “Made in China” US Olympic uniform controversy, Dov Charney has now thrown his voice into the melee.
The New York Post is reporting that American Apparel is apparently in talks to design Russia’s Olympic uniforms. Russia and AA have reportedly been talking since 2011 about the US-based retailer manufacturing Russia’s 2014 winter Olympics uniforms. And why is this happening, you ask? Charney told the paper, “[Russian Olympic team representatives] said they didn’t want anything that was made in China.” Charney told the Post that the line for Russia would include both uniforms and merchandise. We reached out to American Apparel for more information, and a rep confirmed that they were still in talks at this time.
But it turns out that Charney wants to help with America’s uniforms, too.
Tuesday May 1st, 2012
Dov Charney Just Got $10 Million Richer
So, not sure if you’d heard, but American Apparel hasn’t been doing so well financially over the past few years. Somehow, though, despite the fact that the company has been tangled up in millions of dollars in debt that is only increasing, CEO Dov Charney raked in almost twice as much money in 2011 than he had the year before.
Thursday April 5th, 2012
Fashion News Roundup: Kris Humpries Takes Pictures in His Undies, Charlize Theron Covers Vogue UK, and American Apparel Sales Spike
Kris Humphries Strips Down to His Skivvies for WestEast Magazine: There are one too many crotch shots in the Nets baller’s spread for the mag’s upcoming issue. Click for pics if you’re into that kind of thing. {Hollywood Life}
Blue Ivy Carter Already Has Swag: Jay-Z posted a photo on his Life+Times website of three-month-old baby Blue’s white Adidas x Jeremy Scott ‘Wings’ sneakers. The caption? “Blue’s first flight.” Awwww….{Life+Times}
Banana Republic Unveils Holiday 2012 Offerings: It’s only just starting to get warm, but we’re loving Banana Republic’s luxe cold weather offerings. Is it too early to start our fall/winter wishlists? {Fabsugar}
Wednesday March 28th, 2012
Dov Charney Will Be at the Helm of American Apparel For At Least Another Three Years
Despite the fact that his company’s been on the brink of bankruptcy for some time–and never mind those pesky sexual harassment accusations –Dov Charney has just been signed to another three-year contract as CEO with American Apparel, according to WWD.
Even with the $80 million lifeline American Apparel recently received from George Soros-backed Crystal Financial LLC and and Salus Capital Partners LLC, American Apparel may still be destined for bankruptcy because that deal came with a high interest rate of 9.5%, adding to the company’s already crippling debt. (They owe a whopping $116 million to London-based Lion Capital, at an interest rate of 18% per year.) Ouch.
So it’s somewhat surprising to learn that Charney is still raking it in:
Friday March 23rd, 2012
Fashion News Roundup: Kim Kardashian Gets Flour Bombed, Dov Charney is Cleared of Sex Abuse Charges, and American Idol Has a Clothing Line
Kim Kardashian Gets a Little Messy: This is definitely not the kind of flower flour girls like receiving. After spending probably three hours in hair and makeup, poor Kimmy K was flour-bombed (think pie-d before the ingredients are mixed) by some disgruntled onlooker at her fragrance release event. Turns out that suspected culprit PETA was in fact not responsible for this half-baked (hehe) sabotage– but a rep made sure to tell TMZ that they were pretty pleased just the same. {Styleite, TMZ}
Dov Charney is An ‘Innocent’ Man: Could 2012 be the year of Dov Charney’s comeback? After being on the constant brink of bankruptcy, American Apparel’s founder and CEO can say adieu to another legal hurdle. A Brooklyn judge has dismissed a lawsuit brought on by a former employee last year claiming that Charney had used her as a “sex slave.” {HuffPo}
American Idol Becoming Fashion Forward: Following the announcement that Tommy Hilfiger will be the reality show’s new “style advisor,” it’s been revealed that American Idol will be releasing its new ‘Authentic Icon’ clothing line at Kohl’s in April – also home to AI judge Jennifer Lopez’s own clothing range. It seems even Idol alum (and Smash star) Katherine McPhee is getting in on the fash game: She was reportedly seen sprinting to the Conde Nast building to “meet Miss Anna Wintour” on Wednesday– though we’re betting there was nary a mention of ‘Kohl’s’ in that meeting. {NY Mag, NY Post}
Thursday March 15th, 2012
Retail Analysts Say American Apparel Might Still Be Screwed
American Apparel may have just gotten another credit lifeline, but that doesn’t neccesarily mean the brand’s been saved.
Earlier this week, American Apparel got an $80 million lifeline from George Soros-backed Crystal Financial LLC and and Salus Capital Partners LLC. The company has managed to consistently avoid bankruptcy with these sort of 11th hour cash injections and loans; and while they may be buying time, retail analysts say it’s not enough to save the company, which is still over $100 million in debt and has $185 million in excess inventories. According to WWD, their new deal comes with a high interest rate of 9.5%, so that debt’s not going to go away any time soon.
The trade asked several retail industry insiders to give their perspectives on Charney and co.’s current situation. Most of them aren’t very optimistic.
Monday March 12th, 2012
American Apparel May Be Saved, Again, With a Little Help from George Soros
How American Apparel manages to receive huge amounts of capital from investors seemingly every year, yet still remain on the edge of bankruptcy, is a mystery we’ll never be able to solve. Last year, as you may recall, the company was spared bankruptcy just in the nick of time by a group of Canadian investors who supplied Dov Charney & co. with a $15 million cash injection, with the option to receive $28 million over six months. This was a little less than a year ago and evidently, the company is already strapped for cash again, and, of course, there’s an investment firm ready to give them lots of it. $80 million in credit, to be exact.
The New York Post is reporting that a firm backed by 81-year-old billionaire George Soros (left) intends to extend a nearly $80 million line of credit to the Los Angeles-based retailer.
