Inside the Industry
Adore Me, one of the first lingerie brands to bring extended sizes to the market, has introduced Adore Me Tech, an organizational structure that represents what a tech group in a retail company can look like. The new technology’s mission is to build upon the existing Adore Me Operating Platform, which currently employs 15 tools including a scaled-up inventory-management system, a product-ordering tool and advanced-shipping notifications, an algorithm-based try-at-home subscription box, an advanced product-creation tool used by Adore Me designers, and a self-serve tool that serves as home base for influencer campaigns.
Crocs Inc. announced it has entered a definitive agreement to acquire the casual-footwear brand Hey Dude for $2.5 billion. “With the acquisition of Hey Dude, we are thrilled to add another high-growth, highly profitable brand to our portfolio,” said Andrew Rees, chief executive officer of Crocs. “We believe Hey Dude’s casual, comfortable and lightweight products are aligned with long-term consumer trends and are a perfect fit for Crocs.” Upon completion of the transaction, Hey Dude will operate as a stand-alone division. The founder of Hey Dude, Alessandro Rosano, will continue to lead product development as a strategic adviser and creative director. The transaction is expected to close in the first quarter of 2022.
Huntsman Savile Row and Morehouse College have partnered to announce a new scholarship to help prepare business, mathematics and computer-science majors for their futures. The London and New York–based fashion house has contributed a $100,000 gift to Morehouse to establish the Huntsman Savile Row Scholarship, which, in addition to providing financial support, will also provide each Huntsman Scholar with a bespoke Huntsman suit. Huntsman Scholars will also participate in mentoring activities and coaching sessions with executives in which they will be given insights into the luxury-fashion industry. To be eligible for the scholarship, rising Morehouse men must have at least a 3.25 GPA and a major that falls within the Division of Business Administration and Economics, the Division of Math and Computational Science, or the Division of Experiential Learning and Interdisciplinary Studies.
Brixton hasappointed Rick Robertson as the new chief financial officer of the premium-lifestyle brand, effective Jan. 3. Robertson reports directly to Raphael Peck, chief executive officer of Brixton, and will help lead the brand through its continuing growth. The company’s expansion has mainly been driven by initiatives around wholesale accounts, digital direct-to-consumer advncements, a fast-growing women’s business and its Brixton Retail Experiences. Prior to his current role, Robertson served as vice president of commercial finance at TaylorMade Golf Company and most recently served as CFO at Municipal Co., where he helped the direct-to-consumer startup achieve its current success in the activewear market.