For Vince, summer has brought about a pretty serious executive shakeup. After leading the New York-based contemporary brand through its IPO in 2013, Jill Granoff is stepping down from her role as chief executive officer, the company announced Monday. And she's not the only one. Karin Gregersen, Vince's president and chief creative officer — and, in that way, something of a Jenna Lyons analog — has also resigned.
According to a release, Granoff will stick around while the board of directors searches for her replacement. Vince, which saw its sales grow 12 percent to $59.8 million during the last quarter, doesn't intend to replace Gregersen, however. Interesting.
In recent quarters, Vince has been working on shifting its business toward retail and away from wholesale, after seeing department stores buying more conservatively while focusing their own efforts on off-price locations. And although sales were up this spring, the brand fumbled on its assortment, failing to sell the sweaters that are so core to its identity. To that end, Vince has hired a new SVP of Merchandising: Livia Lee, who comes from Lacoste, Diesel and Victoria's Secret. She'll be in charge of merchandising across all categories, including men's, women's, accessories, retail and e-commerce.
So to wrap up: new CEO, no president/chief creative officer and a reorganized merchandising team. We're looking forward to seeing how all these changes pan out.
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