Andrea Pesaresi will join the American company on October 15. He has a longstanding career in the fashion industry, after working for 25 years at Ermenegildo Zegna.
The sportswear company will lay off around 400 employees in the next few months. The reduction of personnel will be completed by March 2019 and it will involve additional restructuring costs of ten million dollars (8.56 million euros).
The American clothing retailer has just introduced Hill City, focused on activewear apparel for men’s. This has been the group’s first portfolio addition since acquiring the Athleta brand. Hill City joins Gap, Banana Republic and Old Navy.
The American department store chain has intensified its efforts to become an omnichannel retailer by leveraging technology in the brick-and-mortar business.
All economic news of the key fashion companies worldwide.