The question now: Will the market see the sale of brands such as Supreme or Timberland? And will the changes get a turnaround at Vans to finally stick?
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Moody’s changed its outlook on the luxury retailer from positive to stable, the same day a report pinned employee allegations of discriminatory hiring practices on Neiman Marcus CEO Geoffroy van Raemdonck.
Further consolidation is in the mix as the art, MMA training center and design space created by RVCA founder Pat Tenore gets placed on the leasing block. Meanwhile, the rest of the Boardriders group’s former Americas home in Huntington Beach is also being shopped for a new tenant.
Saks’ new home is one part of a proposed five-year redevelopment plan for a two-block site that would also include a boutique hotel, apartments and more.
Vans saw another quarter of sales declines as parent VF Corp. announced a portfolio-wide review of all brands.
The designer will also take on the role of chief creative officer at Old Navy.
The denim brand’s expanded footprint at the Vegas mall coincides with the multi-year path it’s been on to elevate its namesake business.
Here’s a running list of the West Coast companies shedding staff this year, including Nike, REI, Levi Strauss, Vans, Boardriders and more.
The Los Angeles heritage brand previewed the collection it’s calling “luxury streetwear” during Paris Fashion Week.
The layoffs equate to 10 percent to 15 percent of the global headcount as the company eyes growth of direct-to-consumer and higher gross margin businesses.