Personal newcomer had earlier licensing success at Calvin Klein Elizabeth Weinberg for Bloomberg Businessweek
A recent conference call with the managers of store of American Apparel (APP), someone has asked how resolve a printer. Embattled founder and CEO Dov Charney, whose company has lost $ 86 million in 2010 and disclosed last month that a cash crunch he could tilt in bankruptcy, conveyed that he would be in it. "He should have said ' I will have someone else do it,'" said Martin Staff, an Executive of clothing veteran introduced in the month as head of business development. "It is the conversion of a small business to a large company, and I think that there is still much to learn.
On the insistence of the creditors, Charney has recently brought with professional management. In addition to staff, a Manager experienced in Ralph Lauren (RL) and Calvin Klein (PVH), former head of Blockbuster Financial Officer Thomas Casey is acting President. The company was also named John Luttrell Financial Director, a position he held previously at the Gap (GPS) string Old Navy. Staff said that american Apparel is promising. "I don't mean it's easy solutions," he said, but this fruit is almost on the ground. ?
Charney has already shaken by the impact of Federal repression 2009 on undocumented workers that resulted in the departure of 2,500 employees of American California garment factories. He says that production due to this interruption of staffing problems are to blame for much of the recent crisis of American Apparel. "We did through the worst," said Charney.
Staff plans to take the brand T-shirts and clothing casual beyond its 273 stores, as it did to Calvin Klein in the 1990s. He was the designer goods in other retailers and license contracts for everything from lingerie aftershave. "I have great respect for his talent," said Klein. "It is capable of running a business, and he has the experience of the implementation of all aspects."
This week, staff said that he had met leaders of top retailers of range, as it does the name on the sale of American Apparel clothing. The company already provides its goods in the Galeries Lafayette in Paris and Selfridges in London, and two luxury chains want to put the goods in addition to their stores, said staff. Its large potential also holds is trade, said. It generated more than a quarter of 532 million dollars of the company in revenue last year primarily selling blank T-shirts for screen printers, who put logos on them for sports teams, businesses and special events. Said staff received interests of chains of stores and concurrent mode marks capacity surplus factory to use American Apparel, in part because its factories based in the United States can turn orders around faster than its Asian rivals. Charney, said the company made clothing nearly $ 47 million last year but could increase production of $ 70 million.
New executives of the first American Apparel are consent majority shareholder Charney to avoid the minutiae of the business and focus on strategy, while his team is stronger inventory and logistics systems and financial controls in place. Said Casey overlooking the basics is typical of fast-growing companies: "it is a fairly simple change, but it is not done until it's done." Consultant Robin Lewis, said retail which saw staff for three decades, he has the "creative engineering and marketing" to revive American Apparel. Then, Lewis said, "they did hire as CEO."
The bottom line: American Apparel recently introduces managers to reorganize its business. It may still need an infusion of cash.
Townsend is a reporter for Bloomberg News.
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