Skip to main content

American Apparel Appoints New Chairwoman, Confirms Acquisition Bid

The latest in American Apparel's tumultuous evolution.

Change happens fast at American Apparel. Less than a week after the retailer fired founder Dov Charney after suspending him in June and hired a new CEO, the company has announced that it has appointed a new chairperson of the board, Colleen B. Brown. 

American Apparel coupled the news of Brown's appointment on Monday with confirmation that it has, as rumored, received a buyout bid from Irving Place Capital, a private equity group that counts Rag & Bone and 7 for All Mankind among its portfolio companies.

Brown is replacing Allan Mayer and David Danziger, who took over as co-chairmen of the board when Charney was suspended. Both will stay on the board. 

It may be a tumultuous time at American Apparel, but all the changes seem to please investors. Stock prices have been rising all week and gained another 6.5 percent on Monday.

Scroll to Continue

Recommended Articles