Karmaloop Names Industry Veteran Seth Haber CEO

May 26, 2015, 18:29 ET from Karmaloop Inc.

BOSTON, May 26, 2015 /PRNewswire/ -- Boston-based Karmaloop, Inc., a 15-year-old online retailer specializing in streetwear, art and music-inspired clothing, today announced that industry veteran Seth Haber will lead the company as CEO.  Haber is the former co-owner and director of the hugely successful Agenda Trade Shows. Held in New York and Long Beach, California, The Agenda Trade Shows are the premier streetwear and action sports trade events. Haber exited the company following its sale to Reed Exhibitions in December 2012. A native of Brookline, Mass., Haber holds a bachelor's degree in Industrial and Labor Relations from Cornell University. 

"Karmaloop has a unique and loyal customer base and I look forward to leading the company toward a strong future, for the sake of our customers and vendors as well as our employees," said Haber. "I have been in this business for a long time and I have worked with most, if not all, of KL's key business partners. I know that we can continue to build on what the company has already done in order to take it to the next level."

Comvest Partner Robert O'Sullivan said, "We conducted an extensive CEO search and found a number of highly qualified candidates interested in leading Karmaloop.  Throughout the process, Seth distinguished himself as our number one choice. His passion for the streetwear culture, varied experience in the industry and achievement in building Agenda made him a natural fit for the position. We feel very lucky to have found Seth, and even more fortunate that we were able to convince him that this is a unique opportunity to restore Karmaloop to its roots.  Because of our confidence in Seth, we are investing significant capital to support his vision and ensure the company is able to deliver the kind of customer experience that will lead to success."

Haber's appointment follows last week's acquisition of Karmaloop by Comvest Partners ("Comvest"), West Palm Beach, and CapX Partners ("CapX"), Chicago, which includes all of Karmaloop's businesses; Karmaloop.com, PLNDR, Kazbah and Karmaloop Europe. Comvest and CapX will acquire the Company as part of the Company's voluntary chapter 11 bankruptcy case pending in the United States Bankruptcy Court for the District of Delaware. The sale is expected to close in early June.

About Karmaloop

Karmaloop is the world's largest and most comprehensive retailer of streetwear and skatewear, as well as the leading internet multi-platform for the verge culture—the expanding generation of young people who have grown up using the internet as a way to shop, communicate, create and innovate. Karmaloop houses many of the most respected brands in streetwear, including Crooks & Castles, 10 Deep and Billionaire Boys Club.

Media Contacts: Sandy Lish, 617-337-9526, slish@thecastlegrp.com

SOURCE Karmaloop Inc.



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