PLAID APPOINTS RICHARD MARCUS PRESIDENT, CEO
Byline: Stan Gellers
NEW YORK — Plaid Clothing Group, which says it still is in the race for GFT SpA, has named Richard Marcus president and chief executive officer.
The appointment was announced Tuesday by Omar Z. Al Askari, chairman.
Marcus, whose appointment is effective Dec. l, said, “From the little experience I had with Plaid, I assume nothing at this point. However, we still have an interest [in GFT] and we’re close to all parties meeting at the table at the moment and hope to realize some interest.”
As reported, Plaid, which began negotiating for GFT in March, has met several rejections from GFT’s creditor banks and just this week Plaid’s $276 million cash bid for the Italian apparel maker was reported considerably outdistanced by a bid from the Fiat Investment Group Gemina SpA. Sources put the Gemina bid at nearly $384 million, but it’s said to involve little cash.
At Plaid, Marcus replaces William B. Anneken as ceo of the $275 million dollar men’s tailored clothing company. Anneken retains his post as vice-chairman of the board of directors and chairman of the executive committee.
James J. Stankovic, president of Plaid’s J. Schoeneman/Palm Beach Cos. division, announced his intention to resign at the end of the year. Stankovic had also been Plaid’s president and ceo until this past June.
Until 1988, Marcus, with over 25 years of experience in marketing and retailing, was chairman and ceo of Neiman-Marcus, Dallas. Since that time, his work has focused on developing marketing
and service strategies for both InterSolve Group and Focus Networks, partly owned by Fairchild Publications, publisher of WWD. Focus Networks provides interactive video networks to retailers.
Marcus currently serves as director of Zale Corp., the nation’s largest jewelry retailer, and Xcellnet, Inc. an Atlanta-based software company. He was named to Plaid’s board of directors this September.
Commenting on the latest turn in Plaid’s bid to acquire GFT SpA in Milan, Marcus, said, “When you think of Plaid’s interest in acquiring GFT, it tells you something of the company’s desire to look beyond as a U.S.- based clothing manufacturing company.
As for his own involvement at Plaid, he added, “I think we have some very special labels and licenses which need to be further developed and optimized in not just this, but other markets globally as well.” Plaid manufactures and markets Burberrys, Evan-Picone, Palm Beach, Christian Dior, Halston, Claiborne, Nautica, Nicole Miller and Hanae Mori men’s tailored clothing.
Marcus will be based in New York.