Intermix is feeling the weight of its owner, Gap Inc.
This story first appeared in the August 9, 2013 issue of WWD. Subscribe Today.
Adrienne Lazarus has been removed as president of Intermix, sources told WWD. Khajak Keledjian, cofounder and former chief executive officer of Intermix, remains at Intermix but earlier he shifted to the role of chief creative officer.
“Adrienne Lazarus is transitioning to a creative adviser role at Gap Inc. Khajak Keledjian is going to continue in his role,” said a Gap spokeswoman. Lazarus will be working with Glenn Murphy, chairman and ceo of Gap Inc.
“Gap only wanted one leader and thought Intermix was getting too commercial and needed to be more exclusive. They want to recoup the fashion quotient,” said one source.
Gap bought Intermix for $130 million in a cash transaction that closed Dec. 31. At the time, Gap said Keledjian and Lazarus would continue to operate the business from New York. Both have been reporting to Art Peck, president of Gap’s growth, innovation and digital division, who spearheaded the acquisition, working with Murphy.
The source also said before Gap bought Intermix, Lazarus was integral in improving the operations of Intermix by repositioning the brand and changing the mix somewhat. “She’s a great leader,” the source said. Prior to Intermix, Lazarus was president of the Ann Taylor division at Ann Inc.
In August, when WWD first reported that the 32-unit specialty chain had hired investment banking firm The Sage Group to help it find an investor, Keledjian said that among its plans for growth are the expansion of its store base domestically and internationally; the introduction of its own private label; a foray into the men’s category, and a bigger online presence.