For Alexander Wang CEO Lisa Gersh, the party is over: After serving as chief executive for the brand for just a little over one year, Gersh is stepping down from the role, according to Business of Fashion.
Gersh joined Alexander Wang from Gwyneth Paltrow lifestyle project Goop, where she also served as CEO, in October 2017. At the time, Gersh was taking over for Wang, who had himself replaced his sister-in-law in the role in June 2016. (Wang also replaced his mother as chairman of his board, a role he retains today.) She was part of a group of appointments intended to take the business to the next stage, including Stephanie Horton, who left FarFetch to take the role of chief strategy officer, as well as adding Tom Florio and Jonathan Miller to its board of directors. Business of Fashion reports that Wang has also appointed fashion industry veteran and former Tory Burch CEO Brigitte Kleine to its board.
For the time being, Wang will resume serving as CEO with the support of senior management and the board while searching for Gersh's replacement. The company has undergone plenty of changes over the course of the last year, including dropping out of New York Fashion Week to show on a pre-collection schedule and switching up how product will be delivered to stores to follow a "drop" style model. Wang also just announced a collaboration with Uniqlo, a project which should help both raise the brand's profile and provide it with a bit of cash.
Fashionista has reached out to Alexander Wang and will update this post with any further details.
UPDATE, Oct. 17, 3:00 p.m.: A representative from Alexander Wang has sent over the following statement from the designer:
We appreciate Lisa Gersh's contributions to our brand and wish her well in her future endeavors. For the past two years, we have gone through an exciting transformation, including the success of our new runway cadence and go-to market strategy. Innovation and creativity remain core to the Alexander Wang brand, and looking ahead, we will continue to push boundaries and challenge the status quo.
This post has also been updated to reflect that Wang will temporarily serve as CEO with the support of senior management and the board, and that he replaced his sister-in-law as CEO in 2016, not his mother. Fashionista regrets the error.