Michael Stitt was named chief executive officer of Haggar Clothing Co. on Monday and joined its board.
He succeeds Paul Buxbaum, who is exiting after three years at the helm to focus on his business interests as chairman and ceo of Buxbaum Group. Buxbaum will remain a strategic adviser to the Dallas-based pants maker.
Stitt joined Haggar in 1999 as director of global licensing and was named president of Haggar Canada Co. in 2006.
In a related announcement, Tim Lyons, previously president of Haggar’s U.S. wholesale operations, has been promoted to president of Haggar.
“This is a very exciting period for our company. We continue to see market share gains and sales growth as a result of a variety of new product lines conceived by this management team,” said Stitt.
Haggar owns the biggest share of the dress pant market in the U.S. and the number-two share of casual pants, according to its figures. The company, which was founded in 1926, was publicly held until 2005, when Perseus LLC, a merchant bank and private equity fund management company, along with Infinity Associates LLC and Symphony Holdings Ltd., bought the brand for about $212 million.
Before going private, Haggar reported annual revenues of just less than $500 million but that top-line figure shrank by at least a third after it sold off its women’s business, terminated its sportswear license and closed a private label division. Since 2009, the company said it has posted “steady revenue growth and strong profitability.”
“Under Paul’s capable leadership, Haggar has gained substantial share and continued its long record of innovation in the marketplace, most recently with the successful launch of a new brand, Life Khaki,” said Brian Leitch, co-chairman of Haggar’s board.
Buxbaum’s Agoura Hills, Calif.-based Buxbaum Group specializes in liquidation, restructuring and turnaround activities in the apparel sector.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews