NEW YORK — Patricia Stensrud has left her position as vice chairman and chief executive officer at Victoria & Co., one of the largest fashion jewelry companies.
This story first appeared in the October 3, 2002 issue of WWD. Subscribe Today.
A replacement has not yet been named, but one will likely be announced within the next few weeks, according to a spokeswoman at Jones Apparel Group, which acquired Victoria & Co. about two years ago. Victoria is now being run under the direction of Rhonda Brown, president and chief executive officer of footwear, accessories and retail for Jones.
Stensrud has been the driving force behind Victoria’s growth and was with the company for more than 15 years. Victoria has estimated sales of about $140 million and holds the licenses for Nine West, Givenchy and Tommy Hilfiger jewelry. It also creates jewelry under Napalier and Richelieu, its own brands, and produces products under private label for a number of retailers. In the last decade, the company has worked to shift its niche from career jewelry to more lifestyle offerings, such as styles with beads, stones and bohemian touches.
Stensrud was also helping to build the Judith Jack brand, which was acquired by Jones last year.
Victoria, which was purchased by Jones for about $90 million in 2000, has faced some difficulties in recent months. Ellen Schlossberg, an analyst with William Blair & Co., wrote in a recent report that costume jewelry dragged down the performance of Jones’ footwear and accessories business in the recently completed second quarter.
In related news, Judith Jack recently moved its corporate sales office and showroom to Victoria’s headquarters at 385 Fifth Avenue here.