UK: Juicy Couture co-president leaves after two months
The co-president of Liz Claiborne's Juicy Couture brand is set to leave after just two months in the post.
David Bassuk is rejoining his former employer, turnaround specialist AlixPartners, and will continue to work for Liz Claiborne Inc as a consultant.
Speaking to analysts alongside the company's first-quarter results last week, Liz Claiborne CEO William McComb said Bassuk will work with the company at a corporate level on some "critical projects" around the brands, "project work that will directly enable the cost savings and efficiencies" the group has been working on.
"As these projects will be taking on more importance over the coming months, Dave has indicated to both Leann [Nealz, president and chief creative officer of Juicy] and me, his desire to focus on these efforts," said McComb.
Liz Claiborne changes its name to Fifth & Pacific Companies this month.
"Dave will return to help run the retail practice at AlixPartners while partnering with Fifth & Pacific on our corporate transformation," McComb added. "While this is a bit unusual, it's a highly pragmatic move.
"We will not be replacing the Juicy co-president role imminently."
Juicy Couture has been weighing down the parent company's results, with sales in the unit down 4.4% to US$110m over the first quarter.
Ken Hannah, chief financial officer of JC Penney, has reiterated that the US department store remains committed to its ongoing transformation, including the implementation of its in-store shops....
US fashion firm Fifth & Pacific has today seen its third-quarter net losses narrow as sales of its Juicy Couture brand continued to struggle....
US fashion firm Fifth & Pacific has lowered its full-year profit target after struggling to sell enough of its Juicy Couture products at full-price....
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