Marcus Wainwright will become Rag & Bone's sole CEO, while Neville will remain on the company's board of directors and one of the largest shareholders in the business. Neville has been with the brand since 2006, at which time he took over from former partner Nathan Bogle. He is leaving Rag & Bone in part to help his wife, makeup artist Gucci Westman, launch a cosmetics and skin-care line. Neville also plans to scout emerging labels.
"I’m looking at investing in some fashion brands in the same way Andrew did with us all those years ago," Neville tells Lauren Sherman of BoF. "I would love be able to give them some guidance the same way Andrew did with us back in 2006."
Overall sales at Rag & Bone are up by 20 percent for 2016, according to BOF, and the brand is projected to earn $300 million in revenue this year. There are no current plans to replace Neville.