NEWYORK — Jack Weinstock, who cofounded August Silk in 1988, has left the firm to become president of corporate brands at Intertex Apparel Group, a diversified apparel firm here.
“It was a wonderful 15 years and I am proud of the success we had. I decided it was time to move on,” said Weinstock from his new offices at 1400 Broadway here. “I always look for challenges and ways to reinvent myself.”
At Intertex, Weinstock will be responsible for expanding and diversifying the product mix. Currently, the firm’s divisions include Kikit, Maurice Sasson and Airport and it has a licensing agreement with the U.S. Polo Association. It also does an extensive private label program.
Weinstock and his former partner Wally Singer cofounded August Silk with High Fashion International, a publicly owned Hong Kong-based company. Singer left in 1994, and the following year, Weinstock sold his stake to High Fashion but remained with the company as chairman and chief executive officer. He was succeeded in those posts by Benedict Chan in 2001, and Weinstock stayed on as chairman emeritus, executive director of High Fashion’s board of directors and a consultant. Lou Breuning remains president.
August Silk was one of the first to market affordable washable silk sportswear and it carved out a leading position in the better sportswear market. Under the August Silk label, the firm markets sportswear, knit tops and intimate apparel, and industry sources estimate its international volume is in excess of $200 million.
Intertex is privately owned by Marc and Jack Setton and Joe and Ralph Nakash. The company, with offices here, Hong Kong and China, sources globally and has facilities in Shanghai and Madagascar and a joint venture in Botswana.
“We will be adding additional brands, licensing our own brands, and will be the licensee for other brands. We’ll also be acquiring other companies,” said Weinstock, who reports to Marc Setton, chairman and ceo, and Jack Setton, president.
“They have the facilities to do it, and the desire to do it. This whole company is really geared for diversification and multitiered distribution. We don’t believe the key to this business is to do more of what you’ve done. The key is that you diversify and have a great deal of flexibility so from a production standpoint, you can move according to what’s happening at retail and adjust to consumer’s needs,” said Weinstock.“We’re very excited,” said Marc Setton. “We’re building our own brands and Jack [Weinstock] brings a wealth of knowledge, experience and expertise.” The company has 95 employees in New York and more than 1,000 people worldwide.
Prior to August Silk, Weinstock was president of Mariea Kim/20 Ans. He had also been president of Remo Apparel and owned a company called Snap Dragon. He began his career at Bobbie Brooks.
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