Lands’ End CEO Federica Marchionni parts ways with company
Lands’ End announced on Monday that Federica Marchionni stepped down from her role as CEO and resigned as Director after less than two years. The Board of Directors appointed Joseph Boitano and James Gooch as Co-Interim Chief Executive Officers, effective immediately.
Marchionni said in a statement: "I am honored to have led this extraordinary company and proud to have succeeded in providing a vision to expand its positioning in the industry with a multi-dimensional strategy. However, the Board of Directors and I have agreed it is time for others to bring Lands' End into the future. I thank everyone who supported me in this journey and wish Lands' End the very best."
The former Ferrari and Dolce & Gabbana executive joined Lands’ End in June 2015 and quickly made adjustments to the brand to make it more fashionable. In December 2015, the brand launched its ‘Lighthouse’ concept as a nod to its heritage, and in 2016 launched Canvas by Lands’ End, the brand’s youthful modern collection, and activewear line Lands’ End Sport.
Marchionni also overhauled the Lands’ End catalog, hired the Sartorialist Scott Schuman to shoot the ‘Portraits’ campaign for the Canvas line and hired Emma Roberts to star in the Canvas by Lands’ End campaign, which was shot by Mario Testino. According to the American press, Marchionni failed to get the company’s employees to buy into her vision.
Customers didn’t buy into the vision much either. Lands’ End’s second quarter results saw a drop in revenue and sales. The brand also reported a net loss of $2.0 million compared to net income of $7.5 million in the prior year. Marchionni said in the financial report that the product and the customers remain the priority despite the shift in presentation.
The successors, Boitano and Gooch, joined the company in 2015 and 2016, respectively. Boitano joined as Executive Vice President and Chief Merchandising and Design Officer, and prior to joining the company, served as Saks Fifth Avenue Group Senior Vice President and General Merchandise Manager, Women's Ready to Wear and Children's at Saks. Gooch joined the company as Executive Vice President, Chief Operating Officer, Chief Financial Officer and Treasurer and held executive positions at RadioShack, Kmart and Sears.
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