Ascena Retail Group Inc. has promoted Jeff Gerstel and George Goldfarb to new posts as presidents of its Dress Barn and Maurices divisions, respectively.
Both had been executive vice president and chief operating officers of their respective brands and report to David Jaffe, president and chief executive officer of Ascena. Michael Rayden has continued to serve as ceo of the Tween Brands unit, which operates the Justice brand, since Ascena’s November 2009 acquisition of the company.
Gerstel joined the Dress Barn unit five years ago as senior vice president of operations, with responsibility for stores, physical operations and lease administration, following a career in retail and investment banking. Goldfarb has been with the company since 1985 and moved up to chief financial officer of Maurices in 2003.
“This structure better positions each brand for the future and allows me more time to focus on Ascena’s growth,” said Jaffe. “George and Jeff are impressive leaders with extensive retail experience and dedication to both our customers and associates. Their expertise and commitment will ensure that our business philosophies and values remain solid but that our strategic focuses will continually drive each brand forward.”
Armand Correia, executive vice president and chief financial officer, told WWD that Ascena expects to realize growth “both organically and through acquisitions.”
Dress Barn operates 836 stores in 47 states, Maurices 797 units in 44 states and Justice 917 units in 46 states. In the fiscal year ended July 30, Ascena had sales of $2.91 billion, with Dress Barn generating $987.5 million, Maurices $776.5 million and Justice $1.15 billion in revenues.
A room full of toiles at the haute couture atelier in the Dior exhibition at Les Arts Décoratifs, open in Paris since July 5. This is just one of three major exhibitions that have been timed to coincide with the house's 70th anniversary. See the rest of the exhibits, plus read WWD's look into the iconic brand's history. Link in bio. #wwdfashion (📷: @dominiquemaitre)
For spring, Pamplemousse's Danica Zheng presented her signature slip dresses attached to a white T-shirt along with floral windbreakers, off-the-shoulder cotton blouses and more. For more highlights from the New York trade shows, go to WWD.com. #wwdfashion
The Green Carpet Fashion Awards closed out Milan Fashion Week yesterday. The fashion industry flocked to the event, showing its efforts to support and spread the message of sustainability. Supermodel Gisele Bündchen said "if each one of us took at least one step is this direction, there is no saying how much could be done." #wwdeye #wwdfashion #mfw (📷: Lodovico Colli di Felizzano)
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)