American Apparel founder and ousted CEO is nothing if not determined.
Days after a bankruptcy court judge rejected a takeover proposal by Hagan Capital and Silver Creek Capital Partners that would have also returned Dov Charney to a leadership position at American Apparel, the controversial founder is reportedly already at work on his return to the retail scene.
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“We are backing Dov on a new venture, ” said Chad Hagan, managing partner and group president of Hagan Capital Group, in a Bloomberg report.
The new concept sounds very similar to American Apparel. Women’s Wear Daily described it as “a basics brand for men and women that will be manufactured entirely in the U.S. and will begin with a focus on developing the wholesale channel.”
“What’s important to us now is we’re able to form this new venture and put Dov at the helm and we’re going to do basics again, ” Hagan, told Women’s Wear Daily. “We don’t want to just start with some funny, online brand. We’re going to do what Dov does best and then establish a robust e-commerce system. But we will not be debuting just as an online retailer.”
This article was first published at Chain Store Age, by Marianne Wilson
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