Stefan Engström has assumed the chief executive officer role at J. Lindeberg, following the exit of Jonas Meerits from that position. Engström is a co-owner of the Stockholm-based company and will also retain his previous global brand director title at the company, said a spokesman.
This story first appeared in the April 27, 2012 issue of WWD. Subscribe Today.
“It has been a fantastic journey but after almost five years I have decided to pursue new opportunities. I am proud of what we have achieved — the business is in a much better shape and the brand significantly stronger today compared to in 2007,” said Meerits, who is also exiting a minority ownership stake in the company with his departure. “The handover to the new owners has been completed and I am stepping down with the confidence that the company is in very good hands.”
Last August, investors Anders Holch Povlsen, Allan Warburg and Dan Friis acquired a majority stake in J. Lindeberg, with Friis taking on the chairman title. The trio are partners in Denmark’s Bestseller Fashion Group, with Povlsen ceo of that company. They acquired the stake from investment vehicle Proventus, which had acquired a controlling share of J. Lindeberg in 2007.
J. Lindeberg operates 17 stores globally in Stockholm; Copenhagen; Kitzbühel, Austria; New York; Los Angeles; Miami; Hong Kong; Shanghai; Seoul; Osaka, Japan, and Tokyo. The brand also has 25 shops-in-shop around the world.
As part of the new owners’ growth initiatives in the U.S., the brand will stage a show during New York Fashion Week in September.