Andrew Rosen is taking a more active role at Rag & Bone.
The longtime apparel industry veteran has stepped into the position of executive chair of the New York-based fashion brand.
More from WWD
-
Model and Actress Iris Law Features in Nostalgic Campaign for New Guess Jeans Label
-
Theory's Jeffrey Kalinsky Leaves Role as Chief Creative Officer and Chief Merchant
Rag & Bone was acquired in February by Guess and brand management firm WHP Global and is operating as an independent entity within the portfolio. Guess owns all of the Rag & Bone operating assets and the intellectual property is owned jointly by Guess and WHP. The purchase price was not disclosed, but Guess’ portion was worth $56.5 million with an earn-out that could add $12.8 million to the price. Rag & Bone’s volume last year was $250 million.
Rosen held an ownership stake in Rag & Bone for many years and he serves as chairman of the board. When its cofounder Marcus Wainwright exited the brand last July, he worked with the remaining management team to operate the business. He was also instrumental in bringing Robert Geller on board as Rag & Bone’s head of menswear design. Tuesday’s announcement served to solidify Rosen’s position.
As executive chairman, Rosen will work with Guess’ executives Paul Marciano, cofounder and chief creative officer, and Carlos Alberini, its chief executive officer, as well as WHP’s executive chairman Yehuda Shmidman to provide strategic direction to Rag & Bone’s executive team and drive growth.
Rosen is a respected leader in American fashion whose roots run deep — both his father and grandfather were also involved in the industry. He started his career at Calvin Klein, cofounded Theory in 1997 and oversaw its growth as CEO for more than 20 years. He continues to be an active investor in the industry with stakes in brands including Alice + Olivia, Veronica Beard and TWP, which launched three years ago.
“It’s an exciting time for both Guess and Rag & Bone as we embark on the next chapter of growth, and I believe Andrew is the ideal person to continue to lead and represent the Rag & Bone brand on this journey,” said Marciano. “I couldn’t be more excited to work with Andrew in this great opportunity together. As we look to the future, our focus is on delivering the authentic and high-quality Rag & Bone collections customers have come to know and love, while extending its reach to even more people around the world.”
Alberini added: “Andrew knows our business and industry exceptionally well, and as a true visionary and pioneer in fashion has paved the way for many other founders, designers and entrepreneurs to succeed and grow in today’s evolving and increasingly digital environment. Paul and I are pleased that Andrew has joined us as a fellow shareholder of Guess. I am thrilled for Andrew to be a part of the Guess family and look forward to a strong partnership on the path ahead as we focus on driving value for our stakeholders.”