Topshop/Topman is set to lose its CEO in the latest blow to parent company Arcadia. Former Burberry exec Paul Price resigned this week for personal reasons, the company said. Price is relocating back to the US.
The Italian eyewear group has bought a 70% stake in Blenders Eyewear LLC from Chase Fisher, who founded the company in 2012 and remains as CEO with a 30% interest. The company’s full valuation was $90 million.
The CEO of the American fashion group, who stepped into his role in early 2015, will be succeeded by chairman of the board, Robert J. Fisher, heir of the company's founding family, who takes over as interim CEO.
One year after launching Hill City, Gap has opened the men's activewear brand’s first physical store in San Francisco, a 12-month pop-up aiming to test the waters as the digital-first label looks into physical retail.
Apparel rental services could now be taking spend away from traditional sales in an already challenged sector, and it remains to be seen if rental clothes will cannibalize retail sales over the longer term.
Gap, Inc. has given an update on the upcoming separation of its businesses into two companies, revealing plans to almost double Old Navy’s physical store count, while the Gap brand will refocus around denim.