Dov Charney has signed a new three-year employment agreement with American Apparel Inc.
The founder, chairman and chief executive officer of the debt-laden specialty retailer will receive a minimum base salary of $800,000 a year, subject to annual increases by the compensation committee, for a three-year term that begins April 1. Charney is eligible to receive incentive bonuses with a target of 150 percent of his base salary, tied to a number of metrics, including total sales; earnings before interest, taxes, depreciation and amortization (EBITDA); net debt, and inventory levels.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)