October 22, 2020
The report in Manager Magazine will come as no surprise since Big a CEO Kasper Rorsted has made it clear almost from the beginning of his tenure in 2016 that the brand’s performance needed to improve or it would be divested.
Athleta CEO Mary Beth Laughton mapped out the women’s fitness brand’s path to doubling sales over the next three years during Gap Inc.’s 2020 investor meeting.
The Italian luxury outerwear brand improved sequentially in the crucially important third quarter, but revenues still declined 15% to €361,815,000 ($423.2 mm) from €425,042,000, and were down 14% constant currency.
The vertical e-commerce outdoor apparel retailer has secured an unspecified investment from NYC-based private equity firm TZP Capital Partners III, LP.