Stefanie Strack, who was named chief executive officer of Rag & Bone in August, has exited the firm.
She had also been a member of the company’s board of directors.
According to the company, Strack and the board “have mutually agreed that their respective visions for the strategic direction of the company differ, and that the company should realign the brand’s leadership.”
“The board wishes to thank Stefanie for her contributions and for the passion and enthusiasm that she has brought to the company,” Rag & Bone added.
At the time of Strack’s appointment, Marcus Wainwright, who had been the ceo, assumed the title of founder and chief brand officer.
The company has commenced an executive search for a new ceo. In the interim, Wainwright will lead the company in partnership with members of the executive management team and the board of directors. Wainwright will continue to focus his energies and efforts on brand vision, product and creative marketing initiatives.
Strack came to Rag & Bone from Nike Inc., where she spent 14 years in various operational and business roles. She had been a member of Nike’s corporate leadership team. Most recently, she was vice president, general manager of Nike Express Lane, leading a global effort to meet evolving consumer needs with improved speed to market. The effort led to the development of a division within Nike that aimed to transform key direct-to-consumer functions: consumer sensing, data and analytics, design, supply chain and manufacturing. Earlier, she served as general manager of Nike Skateboarding.
Strack’s appointment was seen as a way to accelerate Rag & Bone’s direct-to-consumer efforts, and she was hired to focus on digital transformation and deepening the consumer connection globally across wholesale and direct-to-consumer.
Strack was unavailable to comment on her plans.
Wainwright, who initially called Strack “a true partner,” also was unavailable for comment Thursday on her departure. At the time of her hiring, Wainwright said Strack’s arrival would allow him “to focus on what I love, which is designing great product and continuing to build the Rag & Bone brand.”
The quick tenure of Strack underscores the volatility in the c-suite these days. From Jan Singer’s sudden exit at Victoria’s Secret in November to Laurent Potdevin’s resignation at Lululemon Athletica to the end of John Haugh’s tenure at Iconix Brand Group, and Jim Brett exiting J. Crew in November, the changes continue to pile up.
Last March, WWD reported that a ceo search at Rag & Bone was quietly in the works, and sources indicated the firm had hired Melanie Kusin, vice chairman, board and ceo of services at Korn Ferry, to conduct the search.
Rag & Bone continued to make news throughout the fall with its collaborations. In September, the company said it had partnered with NBA All-Star Carmelo Anthony and Jordan Brand to introduce two limited-edition men’s collaborations. The company also collaborated with Agata Osti, daughter of Massimo Osti, the founder of C.P. Company and Stone Island, on an outerwear capsule. Rag & Bone launched a limited-edition unisex collection with Disney to coincide with the launch of Mickey the True Original campaign, a global celebration of Mickey Mouse’s 90th anniversary.
As reported, Wainwright’s former co-ceo David Neville stepped aside in 2016 to embark on a career in beauty with his wife, Gucci Westman, who launched Westman Atelier. Neville retained a stake in Rag & Bone and remains on its board, along with Wainwright and investors John Howard of Irving Place Capital and Andrew Rosen.
Rag & Bone, which makes women’s and men’s ready-to-wear, denim, accessories and footwear, was founded in 2002.