We’ve got a wangover, literally. Alexander Wang announced today that he’ll be stepping down from his role as CEO of his label, effective immediately. It’s been just 15 months since the designer took over as CEO of his company, taking the place of his sister-in-law Aimee Wang and his mother Yin Wang, who held the respective positions of CEO and chairman.
He will be succeeded by former Goop CEO Lisa Gersh, who most recently headed up the Gwyneth Paltrow-founded lifestyle brand. Wang’s choice to step down as CEO comes on the heels of his recent event at New York Fashion week, which was heavily criticized. His show last month in Bushwick was filled with pushing and shoving, and even, the New York Times observed, “Kim Kardashian and Kris Jenner were stuck on the concrete outside, balanced on their teetering heels.”
Wang will remain creative director and chairman of Alexander Wang, Inc.’s board of directors, which Gersh will also join. The label, founded in New York City in 2005, also appointed Stephanie Horton to the newly created position of chief strategy officer, leaving behind her post as chief marketing officer at Farfetch. Horton led the e-tailer’s global expansion into the Middle East and countries like China and Russia, which is exciting for Wang if the brand is considering growth beyond the 50 countries it currently services.
In a press release, Wang stated that Gersh and Horton’s hirings were necessary “to continually challenging the status quo” in a constantly changing retail environment . “In my year as CEO, I’ve been able to reflect and assess the strengths and opportunities of the Company and set the stage for future growth,” said Wang. “Lisa and Stephanie’s diverse backgrounds in the media, lifestyle, and digital landscape will help us continue to position the business to expand into new categories and territories.”
Here’s to hoping the party continues at the label’s next runway show in February — just maybe with less pushing and shoving this time.
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