Cushnie et Ochs names new CEO, announces investment
Cushnie et Ochs announced Monday that it has sold a stake in Cushnie et Ochs, LLC to an investor group led by Farol Asset Management, LP and has hired Peter Arnold as Chief Executive Officer.
The New York City-based women’s ready-to-wear brand aims to expand its collection with the recent investment across distribution channels and in the US and abroad. The investors, Farol Asset Management is an investment group that was founded in 2011, and includes Farol and several other fashion industry insiders. The company manages $250 million in capital and invests in a broad range of industries including but not limited to apparel, consumer products and services, manufacturing and software and technology.
In addition to the investment, the company hired Peter Arnold to lead the business as CEO and work directly with Cushnie et Ochs co-founders and designers, Carly Cushnie and Michelle Ochs. Arnold heads to the company from Cynthia Rowley where he served as CEO for seven years. Prior to that, he was the Executive Director of the CFDA.
Founded in 2007, Cushnie et Ochs is an award-winning brand that has been nominated for a CFDA Swarovski Award and was a finalist for the CFDA/Vogue Fashion Fund. The brand is currently available in Bergdorf Goodman, Neiman Marcus, Saks Fifth Avenue, and luxury online retailers like Net-A-Porter among others.
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