The 24-year veteran of H&M grew North American sales from $1 billion to $4 billion over the course of his career there.
The former H&M executive is credited with quadrupling the company’s North American business during his 20-year tenure.
The EU is considering a complete ban on certain chemicals, commonly used in apparel and cosmetics. Some brands will have to make serious supply chain and sourcing changes, as a result.
The plan is to keep all 448 stores in the U.S. open and expand the brand around the world.
The deal is worth close to $300 million when factoring in purchase price, liabilities assumed.
A theme with troubled retailers including Forever 21 is vendors are asked for support during a bankruptcy, but face tough odds of recovery.
The $81.1 million bid from two landlords and Authentic Brands Group could get some competition, though the odds are stacked against others.
The retailer survived a tense hearing in Delaware bankruptcy court Tuesday amid objections to the fees and speed envisioned by the bid.
Authentic Brands Group teamed up with Simon Property Group and Brookfield on the bid for the bankrupt fast-fashion retailer.
The bankrupt retailer told a Delaware court that it has significantly cut costs, and is working to find a buyer.
The brand-managing house is said to be considering another acquisition, this time at the lower end of the price scale.