LOS ANGELES, Jan. 28, 2019 /PRNewswire/ -- Lucky Brand announced today that Carlos Alberini has resigned as Chairman & CEO, effective immediately, to pursue another opportunity. Mr. Alberini is working with the Company as needed to ensure a successful transition.
Lucky Brand has established an Office of the CEO, comprised of three Lucky Brand senior executives who have significant operational and merchandising experience with the Company: Nigel Kershaw, Chief Financial Officer; Mike Relich, Chief Operating Officer; and Lexi Tawes, Acting Chief Product Officer. The Office of the CEO will manage the Company's operations as the Board works to establish permanent leadership. Additionally, Michael Griffin will continue to serve as an advisor to the Company. Mr. Griffin has extensive apparel experience including as a senior executive overseeing Merchandising, Design and Wholesale at Lucky Brand from 2010-2015.
"On behalf of the Board of Directors, I want to thank Carlos for his leadership of Lucky Brand. I am also thrilled with the partnership and alignment of the exceptional executives in the Office of the CEO, and I am confident that they and the entire Lucky Brand team will successfully lead the Company as it continues to execute its strategy," said Michael Kirton, Principal, Leonard Green & Partners, L.P.
The Company achieved strong operational and financial performance in 2018, with results exceeding the Company's financial plan. The outlook for 2019 is for continued strong growth and operational execution that builds on the Company's current positive momentum.
Lucky Brand has been privately owned since its acquisition by affiliates of Leonard Green & Partners, L.P. in 2014.
ABOUT LUCKY BRAND
Staying true to the rich heritage — and authentic, all-American spirit — of denim, Lucky Brand began crafting great-fitting, vintage-inspired jeans in Los Angeles in 1990. Their distinctively Lucky look was achieved by literally putting them through the wringer — ripping, fraying, sanding, patching and washing by hand — to give them true character and soul. Authentic hardware, personalized touches and playful details were all added, and an American legend was born. Lucky Brand jeans are made for the free-thinker, the artist, the dreamer; they're made to dance, work, run, jump, and play. Inspiration doesn't just come from the rugged workwear of denim pioneers, but from the free spirit and laid-back lifestyle of Lucky Brand's Southern California roots. There are presently over 250 locations in North America, 15 of those in Canada—as well as in select department stores. For more information please visit LuckyBrand.com.
ABOUT LEONARD GREEN & PARTNERS, L.P.
Leonard Green & Partners, L.P. ("LGP") is a leading private equity investment firm founded in 1989 and based in Los Angeles. LGP partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 90 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. LGP primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail, distribution, and industrials. For more information, please visit www.leonardgreen.com.
Leah Jacobson, LJ Public Relations
Email: [email protected]
SOURCE Lucky Brand