Oak Brook, Ill. — Chef Bill Kim’s Pizza & Parm Shop, a new virtual restaurant based out of the Chicago suburb of Oak Brook, opened on Dec. 2. Available exclusively for takeout through DoorDash, this pop-up offers the western Chicago suburbs a chance to experience the award-winning chef’s menu of flavors, in a time where dining options continue to be limited due to restaurant dining restrictions. “Growing up on the northside of Chicago, I had a lot of Italian friends and was constantly surrounded by the cuisine… I think part …
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New York City — Tapestry, Inc., a leading New York-based house of modern luxury accessories and lifestyle brands (Coach, Kate Spade, Stuart Weitzman), has appointed Joanne Crevoiserat as chief executive officer. She had served as the company’s interim CEO since July 2020, after having joined the company as chief financial officer in August 2019. Before that, she was executive vice president and chief operating officer of Abercrombie & Fitch. “After completing a comprehensive internal and external search, the board unanimously concluded that Joanne is the best candidate to lead Tapestry’s …
Dallas — La Madeleine French Bakery & Café will return to Addison, Texas, in February with a new Petite Market and Bakery prototype, which combines la Madeleine’s ambiance as an unhurried French retreat with the convenience of a grab ‘n go concept. The new restaurant will also include la Madeleine’s first-ever drive-thru and a featured scratch-baking experience. “To round out the French bakery experience, team members will make bread onsite by mixing the dough, shaping and baking it,” says la Madeleine CEO Lionel Ladouceur. “There is truly nothing more delightful …
Menomonee Falls, Wis., and San Francisco — Sephora will debut at least 850 “Sephora at Kohl’s” locations within Kohl’s stores by 2023, the San Francisco-based cosmetic company announced. The locations will span 2,500 square feet and will typically be situated near the front of each Kohl’s. Sephora at Kohl’s shops will replace Kohl’s current in-store beauty assortment. Exterior signage at locations that feature the in-store shops will display both Kohl’s and Sephora branding. These locations will be selected based on existing Sephora store proximity, market opportunity and customer insights. Menomonee …
Premium Apparel Agrees to Acquire Multiple Clothing Brands from Ascena Retail Group for $540 Million
by Katie Lee
New York City and Mahwah, N.J. — Premium Apparel LLC, an affiliate of New York City-based private equity firm Sycamore Partners, has entered into an agreement to purchase multiple clothing brands from Mahwah, N.J.-based Ascena Retail Group for $540 million. The apparel and footwear brands in question include Ann Taylor, LOFT, Lane Bryant and Lou & Grey. Under the terms of the deal, which is expected to close by mid-December, Premium Apparel will acquire the brands on a cash-free and debt-free basis. Premium Apparel did not specify how many of …
Los Angeles — California Pizza Kitchen (CPK) has successfully completed its financial restructuring process and emerged from Chapter 11. CPK completed a debt-for-equity transaction and now has a substantially reduced debt load and increased liquidity. Upon emergence, the company eliminated more than $220 million of existing funded debt from its capital structure. The company had filed for bankruptcy in July 2020 with plans to close 200 stores. CPK completed its restructuring with the full support of its creditors and previous equity holders. Looking ahead, the company is focused on expanding …
Union, N.J. — Bed Bath & Beyond Inc. has named John Welling as senior vice president (SVP), merchandise planning, allocation & operations, effective immediately. Welling will report to Joe Hartsig, Bed Bath & Beyond’s chief merchandising officer (CMO), and president of Harmon Health & Beauty Stores. Welling will be responsible for helping lead the transformation of Bed Bath & Beyond’s inventory planning and replenishment strategy, a core pillar in the company’s strategic growth plan. This includes implementing enhanced merchandising processes and inventory systems to improve in-stock levels and turn times, …
Irvine, Calif. — Juice It Up!, a leading handcrafted smoothie, açaí bowl and raw juice franchise, has experienced strong growth in same store sales (SSS) and average unit volumes (AUVs) in 2020. Despite the challenges presented by the pandemic, through October 2020, SSS for the year have increased by 13%, with SSS for the third quarter just ended September 2020 up 19%. Most significantly, the brand’s top 50% of franchised locations now have an AUV approaching $600,000 while the brand’s top 25% of franchised locations have seen their AUV expand …
Gap Inc. Appoints New Chief Growth Officer and New President and CEO of Banana Republic
by Katie Lee
San Francisco — Gap Inc. has hired Asheesh Saksena to join the Gap Inc. senior leadership team as chief growth officer, a newly created position that will focus on executing the company’s strategic agenda, as well as leading growth initiatives for the future. In addition, the company also named Sandra Stangl as the new president and CEO of Banana Republic. Saksena most recently served as president of Best Buy Health where he led the formation and operation of the brand’s strategic diversification into digital health after serving as the company’s …
Plano, Texas — Former restaurant and entertainment executive, Ted Beaman, along with his 20-year business partners, Sean McCullough and Greg Stevens, are shifting careers from the entertainment industry to open 10 MOOYAH Burgers, Fries & Shakes, a Plano, Texas-based “better burger” concept, across the Dallas-Fort Worth metropolitan area. Eight of the 10 locations will be new, whereas the other two locations — in Flower Mound and Frisco, Texas — are being acquired and remodeled. All 10 of these locations will feature the brand’s new prototype with new dining zones, digital …