NEW YORK--As the Faded Glory jeanswear brand gets repositioned for mass market selling, president Martin Richter has resigned, and the licenses and personnel are under review, according to Charles Dayan, chief executive officer of AC Holdings, which owns the Faded Glory name. Dayan confirmed many of the 18 current licensing agreements will not be renewed. "We are going to bring in people who are stronger and more suitable" for selling to the mass market, Dayan said. Faded Glory, a brand from the Sixties, was acquired and revived by AC 2 1/2 years ago, aiming at moderate-price department stores. Richter said he resigned on Friday and was moving on to a new job, but declined to specify where. He had been president of the brand since 1993. Before that, Dayan was president. Dayan said he had not yet decided who would succeed Richter. Dayan said that Faded Glory had not been performing badly at retail, but said that he felt the mass market stores "are the future." The company would not release sales figures for the brand. Dayan is also ceo of the Bonjour Group, another licensed casual apparel brand which is distributed through mass merchandisers.
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