The ongoing saga of the fate of American Apparel continues, this time with former CEO Dov Charney suing Standard General LP, controllers of the brand, of false claims that he was fired based on an independent investigation by an outside law firm. According to Charney, it’s a “sham.” According to the complaint filed at the […]
This has been the apparel saga of the decade as the bumpy ride of American Apparel, a teen retail favorite with more than 230 stories that revolutionized the concept of first-layer fashion and more, finally announced on Sunday, October 4, 2015 that they were filing for Chapter 11 bankruptcy. In their statement, $90 million in […]
American Apparel is in talks for potential bankruptcy just when it seemed like things couldn’t get worse. 17% decline in revenue from $19.4 million in their second quarter to $16.2 million a year ago means they have burned about $23 million in Q2 alone. There are also some 20 lawsuits surrounding the firing of former […]
More changes once again have been announced from American Apparel, as today, April 7, 2015, it was announced that Joseph Pickman, formerly from the Band of Outsiders, has been chosen by CEO Paula Schneider to head-up the men’s design team. If any of his new designs look like Band of Outsiders, we can expect some […]
Etsy, the favorite online retailer for crafted goods, has decided to go public. The company filed with the U.S. Securities and Exchange Commission yesterday, March 4, 2015, and is looking to raise $100 million. According to their filing, Etsy says they have 1.4 million sellers and 19.8 million buyers, with a revenue of $108.7 million. […]
It looks like the ouster of American Apparel founder Dov Charney is under question. The 6th largest investor of America Apparel, Bigger Capital Fund, is questioning the amount of information that was given to investors before making the final decision to fire Charney. According to Bigger Capital, in a letter from Bloomberg News, there was […]
Former CEO and founder of American Apparel, Dov Charney has officially been fired by the Board of Directors as of Tuesday, December 16, 2014. The board said he was terminated “for cause in accordance with the terms of his employment agreement.” Paula Schneider will take over as CEO in January 5, 2015. We’re pleased that […]
The brothers Daniel and Markus Freitag behind the trendy messenger bags, Freitag, made of used truck and plane inner tubes, have come up with an apparel collection that uses their new fabric called F-abric which is completely biodegradable. The trend is on target with the growing appreciation and demand of young consumers for fashion that […]
Former CEO and founder of American Apparel, Dov Charney has new strategies towards getting his brand back after being ousted by his board on June 18, 2014. First, just 2 weeks after getting pushed out, Charney borrowed $20 million from Standard General to move his ownership from 27% to 43%. At the time, Randy Katz, […]
On Wednesday, June 18, 2014, Dov Charney, the out-spoken founder and CEO of American Apparel, was ousted by his board of directors. The reason was because of the ongoing investigations of misconduct towards women. “This is not easy, but we felt the need to do what we did for the sake of the company,” Allan […]