2012 December 3
Paul Blum Joins Juicy Couture
Patrick McMullan View Gallery
(NEW YORK) Last month Kenneth Cole bid adieu to chief executive officer Paul Blum, who had been with the company since 1990. This month, Juicy Couture scooped up the exec as their new CEO. The appointment comes almost one year after the departure of Edgar Huber in February 2011.
With Blum's experience in building lifestyle brands, he may be the turn-around hire Juicy needs after reporting a third quarter sales drop of 5.5 percent to $130 million. The strategy? Lowering price points and targeting dresses, denim, and knit tops in 2013. In addition, Blum will focus efforts on strengthening the outlet business, diversifying product assortment, and continuing a global brand expansion in South and Central America.
Following his 15-year tenure at Kenneth Cole, Blum decamped to David Yurman, where he served as chief executive officer for five years. Last March, he rejoined Kenneth Cole as vice chairman, and shortly after was promoted to CEO with the departure of Jill Granoff. In his new role at Juicy, Blum will report to parent company Fifth & Pacific Cos.' chief executive officer William L. McComb; LeAnn Nealz, Juicy's president and chief creative officer, will report directly to Blum.
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