Kathy Savitt, executive vice president and chief marketing officer of American Eagle Outfitters Inc., has left the firm.
American Eagle disclosed in a Securities and Exchange Commission filing Friday that Savitt had entered into a separation agreement with the company that provided for, among other terms, a lump-sum severance payment of more than $1 million.
The move follows by one week the return to the American Eagle fold of Roger Markfield, former co-chief executive officer and chief merchandising officer, as vice chairman and executive creative director.
Savitt, a former vice president at Amazon.com, joined Pittsburgh-based American Eagle as executive vice president and chief marketing officer of the American Eagle brand in March 2006 and was promoted to her most recent corporate post one year later. She was widely credited with using nontraditional media, including tie-ins with musicians and sponsorship of a spa at the Sundance Film Festival, to increase the power and reach of the company’s namesake brand as well as its aerie and Martin + Osa offshoots.
But the company’s interest in breakthrough marketing may have been replaced by more practical concerns in recent months. AEO’s profits dipped 57 percent, to $42.6 million, during the third quarter on a 7 percent comparable-store sales slide. Results have only worsened in the fourth quarter as the firm reported an 11 percent decline in comps for November and, most recently, a 17 percent tumble in December.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast