Liz Claiborne reorganizes company & realigns management structure
21 Jun '07
2 min read
Liz Claiborne Inc announced that it will reorganize into two divisions, "Direct Brands" and "Partnered Brands." The reorganization reflects the different skills, capabilities, investment criteria, and financial structure required by these two distinct businesses, and supports the new strategy that will be discussed next month.
The company also announced changes to its management structure and several appointments within its senior management team, including the appointment of Andrew C. Warren as Chief Financial Officer, effective July 9, 2007.
Chief Executive Officer William L. McComb stated,announcement establishes the framework of the organizational structure that will support the strategic initiatives we plan to unveil at our July 11th Investor Day.
This is a crucial step in remaking Liz Claiborne Inc. into a more brand- focused and cost-effective business that can successfully navigate a rapidly changing retail environment.
Accordingly, this new organizational structure puts 'brand' at the center of all we do, enabling a more consistent, focused approach to brand strategy for all of the names in our portfolio.
Trudy Sullivan, President of Liz Claiborne Inc, said, "This new structure reflects the distinct needs of our Direct Brands versus Partnered Brands, which have different growth prospects, capital requirements and cultural profiles."
Our retail-based Direct Brands division will benefit from enhanced retail infrastructure and capabilities, while our wholesale-based Partnered Brands division will be better positioned to meet the needs of specific customers.
"While there are clearly overlapping channel dynamics, we want to manage these businesses as two distinct divisions and report on their performance with a set of metrics that is more appropriate to these different business models."
marketing@alchempro.com
