US: Kellwood names Kramer CEO as Skinner steps down
Branded apparel maker Kellwood Company has named Michael W Kramer as its new president and CEO, replacing Robert C Skinner Jr who is resigning "to pursue other interests."
The change in leadership comes just five months after private equity firm Sun Capital Partners Inc bought the company for $767m after months of wrangling between the two companies.
Kramer, who most recently served as executive vice president and chief financial officer of Abercrombie & Fitch, will take up his new post on 18 August.
He has also worked at Apple Inc where he served as chief financial officer for Apple Retail, and has held key financial leadership roles with The Limited, Pizza Hut, and Einstein Noah Bagel Corporation.
As president and CEO, Kramer will be responsible for the overall growth and direction of the Women's Clothing Business which includes the design, marketing, and development of leading women's apparel brands including Vince, My Michelle, Phat Fashions, Sag Harbor, Briggs New York, and XOXO.
He will oversee all aspects of business operations at St Louis, Missouri-based Kellwood.
Christopher T Metz, managing director of Sun Capital, said Kramer's "retail and apparel expertise coupled with his dynamic leadership skills will play a key role as we begin to implement our strategic plan to further maximize the intrinsic values inherent in our apparel portfolio."
The struggling $1bn women's apparel marketer is attempting to shift its business focus to a brand manager with high-end labels and its own retail operations.
Help test our new apparel sourcing tool.
Hong Kong-based sourcing giant Li & Fung Limited has bought German apparel supplier Miles Fashion Group for US$51m, in a move that expands its business both in Europe and in value-priced products....
Here is a roundup of the top five most-read stories on just-style this week. Click on each headline for the full story....
Private equity firm Sun Capital Partners has moved to acquire Kellwood's Hanna Andersson and Gerber Childrenswear businesses for $179m....
Savile Row fashion house Hardy Amies Plc has been sold to Fung Capital Europe, the private investment arm of Hong Kong sourcing giant Li & Fung, for an undisclosed sum....
- What TTIP might mean for US, EU textiles & apparel
- Four steps to reduce product defects
- Unlocks for the future fashion sourcing landscape
- Geo-political uncertainty and how to survive it
- EU eyes mandatory due diligence for apparel supply
- US Q4 in brief – PVH Corp, J Crew, Perry Ellis
- H&M, VF Corp and Levi among most ethical companies
- Vietnam limits hazardous chemicals in apparel
- Sears has "substantial doubt" of future
- PVH Corp to acquire e-commerce retailer True&Co
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective