USA: E7th.com Appoints Jay M Margolis As Chairman And CEO
As CEO of Esprit de Corp and vice chairman of both Tommy Hilfiger and Liz Claiborne, Margolis established himself as a successful fashion executive and gained recognition for his ability to steer footwear and apparel companies to greater success and profitability.
"As a former executive of major fashion houses, Jay Margolis understands how critical it is to respond to the market quickly," said Howard Gittis, company director. "With Jay at the helm, e7th.com will further develop superior supply chain solutions to meet customer needs, and will solidify its position as the leading technology platform for the fashion industry," he added.
"Our primary objective is to increase customer sales. e7th.com helps vendors get to their customers more quickly, in a secure environment, with better information and on a regular basis. As a result, we improve their ability to respond to their customers," said Jay Margolis.
"On the flip side, our retailers operate with more timely information and are in a better position to meet the needs of the end consumer. e7th.com can do this for vendors and retailers because of its proprietary technology platform and deep understanding of existing industry supply chain dynamics."
e7th.com has already signed on more than 7,200 retail doors representing $3.5bn of wholesale footwear sales or 13 per cent of the market. The company launched its online auction and news services in April, and plans to launch its image-driven, multi-vendor catalog in the fall. e7th.com's password-protected services allow vendors to control who views their merchandise. This proprietary technology has created a substantial and early following for e7th.com in an industry where brand appeal and original designs can make or break a company.
Most recently, Margolis was Chairman and CEO of Esprit de Corp where he restored the Esprit brand and launched the company's e-commerce business. He also served as president of menswear and womenswear at Liz Claiborne where he launched Liz & Company and Dana Buchman, today one of the leading bridge designers. Previous to that, Margolis was vice chairman of Tommy Hilfiger where he led the company's expansion and increased profitability of the licensed product line.
Todd Ricci, the founder of e7th.com, will assume the role of chief strategic officer.
e7th.com (www.e7th.com http://www.e7th.com) provides a full service, secure, comprehensive multi-vendor supply chain solution for 7th Avenue - the heart of the wholesale fashion industry. e7th.com brings together vendors and retailers and provides them with a combination of three dynamic resources in one. The extensive wholesale catalog allows buyers to search across multiple brands for a style and then place, manage and track those orders online. Through its electronic BidOut Auctions, the site allows vendors and retailers to buy and sell excess inventory. e7th.com also offers an online publication featuring the latest industry news and trends.
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