Week In Review
Roots, a Canadian lifestyle brand well known for its beaver logo, announced a change in executives. Meghan Roach was appointed interim chief executive officer following the departure of Jim Gabel, who stepped down from his role as CEO. The Toronto-based Roots is working with an international search firm to find a permanent CEO for the company, which makes sweats, T-shirts, leather jackets, footwear and accessories. It runs 115 bricks-and-mortar stores in Canada, seven shops in America, 114 partner-operated stores in Taiwan and 35 in China.
Hudson’s Bay Company has the distinction of being North America’s oldest company. It started in 1670 and also owns retailer Saks Fifth Avenue. It recently marked a milestone in its quest to become a private company. On Jan. 3, it entered into an amended arrangement agreement with a group of shareholders to acquire their HBC stock for $11 in cash per share. A shareholders meeting is scheduled for February to approve the privatization transaction.
Urban Zen, which was founded by Donna Karan in 2007, recently named Helen Aboah as chief executive officer. The company offers ready-to-wear, accessories, furniture and home décor with a Buddhist, New Age and wellness sensibility. The Urban Zen CEO position had been vacant for two years, according to a company statement. Aboah formerly served as an executive vice president for the Alexander Wang brand, Karan said. “Helen’s experience leading creative organizations will drive my dream of commerce and philanthropy to a global level,” Karan said.
Chete Jewelry, headquartered in Hong Kong, recently introduced a new line called Brand Beyond Time. It is an artisanal charm collection inspired by qualities and emotions such as love and gratitude, said Omri Hurwitz, Chete’s public-relations and marketing manager. “I feel that nowadays people want to buy a product that speaks to them in a personal but shareable way, that adds emotional value to them,” he said.
Almod Diamonds donated $7,000, the equivalent of 100,000 Namibian dollars, to the Save the Rhino Trust, a Namibian organization devoted to protecting the endangered black rhino. Almod runs a New York City headquarters, but it cuts diamonds in Namibia and also operates mines there. It considers the Almod divisions Diamonds International and Crown of Light as part of the Namibian community, according to a brand statement. Save the Rhino was formally registered as a nonprofit in 1994 and is gaining increasing visibility in America.
Tukatech, a Los Angeles-headquartered fashion-technology company, is celebrating its 25th anniversary this year by offering free software to its clients. The TUKA-APM (Automatic Pattern Making) software is an automated patternmaking-and-grading software. It’s a user-friendly system, according to a Tukatech statement and it allows a person of any skill level to complete a graded pattern in seconds, said Ram Sareen, Tukatech’s founder. “Since 1995 we have stayed focused on simplifying apparel product-development processes,” he said. “There is no better way to start 2020 than with a ‘thank you’ to our loyal customers.”