Totokaelo founder Jill Wenger steps down after Herschel acquisition
In September, Herschel Supply Capital Co. acquired contemporary fashion retailer Totokaelo. This week, FashionNetwork was informed that Totokaelo founder and CEO Jill Wenger parted ways with the retailer.
Wenger, who founded Totokaelo in 2008, was to stay with the retailer after the acquisition but has decided to part ways. Totokaelo is credited for bringing luxury fashion labels to Seattle including Rick Owens, Junya Watanabe and Dries Van Noten. In a panel discussion at Capsule New York Women’s in 2015, Wenger discussed the difficulties of competing against fashion giant Nordstrom in Seattle and how Totokaelo emerged as one of the notable retailers in the US.
The new parent company, Herschel Supply Capital Co., the investment division of Herschel Supply Co., purchased a majority stake in Totokaelo to provide funding for the retailer. Wenger was to step down as CEO and remain with the retailer. Herschel Supply Capital also has a minority stake in Need Supply and has a stake in 8100 Melrose Avenue in Los Angeles.
Totokaelo operates two stores in the US in Seattle and New York City as well as an e-commerce website that recently became its own operation.
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