LONDON — Kevin Stanford, the chairman of AllSaints, has exited the company in a dispute with majority shareholder Lion Capital, according to industry sources.
A spokeswoman for AllSaints confirmed that Stanford no longer works at the British high-street brand, which was rescued from bankruptcy last year by Lion Capital and Goode Partners.
Goode has since sold its stake, WWD has learned, and the company is now controlled by Lion, which is also an investor in American Apparel.
A spokeswoman for Lion Capital declined to comment.
“It’s a complicated situation,” said one industry source, alluding to reports in the British press that Stanford clashed with Lion’s founder, Lyndon Lea over how to manage the company, and about the value of Stanford’s minority stake.
Stanford’s exit is the latest chapter in the AllSaints saga. In 2011, Lion and Goode rescued the company, which had run into trouble due to a rapid-fire retail rollout — overseen by Stanford — and the collapse of its Icelandic investors.
A few months after Lion and Goode purchased AllSaints, chief executive officer Stephen Craig quit, citing a conflict with Stanford.
“The current leadership structure is untenable given the lack of clarity of roles between the chairman, Kevin Stanford, and me and, as such, I now believe it is the right time for me to explore other, more entrepreneurial opportunities,” Craig said in September, 2011.
Last month, AllSaints named William Kim ceo. Kim, who is formerly senior vice president of retail and digital commerce at Burberry, is to take up his post on Oct. 15 with the aim of expanding the company’s global footprint and digital presence.