Lands’ End has appointed Charlie Cole as its new CEO, effective July 13. Cole, who has a strong background in technology-focused roles, previously served as the interim chief digital officer at Thuma, a bedding brand. He takes over from Andrew McLean, who led the company for three years.
This leadership change comes shortly after WHP Global acquired a controlling stake in Lands’ End for $300 million. Josephine Linden, the board chair, emphasized that Cole’s experience in transforming consumer brands will be vital for the company’s turnaround, especially as it faces ongoing challenges.
Despite efforts to improve, Lands’ End reported a more than 8% decline in net revenue in the last quarter, nearing $240 million. The company attributed some struggles to disruptions from a new warehouse management system, which they claimed impacted sales figures.
However, thanks to the investment from WHP Global, Lands’ End managed to report a net income of over $330 million in Q1, a significant improvement from the previous year’s loss.
The brand’s strategy now includes the restructuring of its licensing business, with assets being handed over to WHP Global.
